Economy Adds 227,000 Jobs in January, Bolstering Case for Fed Rate Hikes

The economy added a better-than-expected 227,000 jobs in January, strengthening the case for Federal Reserve rate hikes this year, according to economist and Real Money contributor Steve Blitz. Blitz also comments on the U-6 unemployment rate, which is a broader measure of unemployment, the measure President Trump has referenced in tweets. That rate stood at 9.4% in January. The headline unemployment rate rose slightly month over month to 4.8%. Wages rose 2.5% year over year as of January. This is the first jobs report under the Trump presidency.