Economy Adds 257,000 Jobs in January Sending Stocks Higher

In January, 257,000 jobs were created, beating estimates of 230,000. The unemployment rate rose slightly to 5.7% from 5.6% in December. Plus, we're starting to see a bit more wage growth, as average hourly earnings rose 0.5% after dropping 0.2% in December. Plus, November's jobs numbers were revised higher to 423,00 from 353,000. December's numbers now stand at 329,000, compared to a previously reported 252,000. TheStreet's Scott Gamm speaks with John Lonski, chief capital markets economist at Moody's analytics for analysis of the jobs report, the future of wages and what the job situation will look like for the rest of 2015.