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Wall Street climbs higher despite weak US job growth data in December

Average hourly earnings rose 0.3% in December after gaining 0.1% in the prior month


Wall Street's main indexes rose on Friday as investors looked beyond weaker-than-expected US job additions in December and took support from signs of a pick-up in wage growth. Nonfarm payrolls increased by 148,000 jobs last month, the Labor Department said, while economists had forecast a rise of 190,000. Stock futures pared gains briefly after the report, which was also in sharp contrast to Thursday's data that showed private employers added a stronger-than-expected 250,000 jobs in December. Monthly wage gains was a bright spot that pointed to labour market strength ...

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First Published: Fri, January 05 2018. 21:50 IST