U.S. Wages Rise 3.2% Year-Over-Year - Adviser Investments

U.S. Wages Rise 3.2% Year-Over-Year

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Friday, January 4. Employment data dominated today’s headlines with average U.S. wages up 3.2% year-over-year and 0.4% since November. The Labor Department also reported that employers surpassed analyst expectations by adding 312,000 jobs in December and that the unemployment rate rose to 3.9% from 3.7% as more people entered the workforce. Meanwhile, the NASDAQ surged 4% after technology stocks recouped some of yesterday’s losses—Apple advanced 4%, Alphabet, Amazon, Facebook and Microsoft each rose about 5% and Netflix was the sector’s biggest winner, closing the day up nearly 10%.

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