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US wage growth accelerates as Trump prepares to take office – Telegraph.co.uk

#8220;Today’s numbers do not alter the trends we are seeing in wider economic data, which shows a definite inflection in the economy. When coupled with the simultaneous inflection in earnings, this bodes well for the stock market in 2017.#8221;

This set of jobs data will be the last for President Obama, as he makes way for Donald Trump, who is set to take office later this month.

#8220;These figures should still be viewed as a justification of the interest rate hike last month, and we continue to expect the Fed to raise rates throughout the year,#8221; she said.

Marcus Bullus, trading director at MB Capital said to expect #8220;a lot more fireworks in the markets from the 20th January on#8221;.

#8220;Employment in the US has been strong for some time now,#8221; he said. #8220;The latest minutes from the Fed suggest that more interventions will be required in 2017 to keep growth steady. Although there is still plenty of uncertainty surrounding the president elect’s Trumponomics, the markets have reacted positively to his economic stimulus programme.#8221;

David Lamb, head of dealing at Fexco corporate payments, said the below-forecast employment numbers would #8220;neither delay nor derail the Fed’s interest rate rise plans, and it is the timing and speed of the hikes that will set the tempo for the dollar in 2017#8221;.

Last month, the Fed increased the benchmark rate by .25 percentage points to a range of 0.25pc to 0.50pc. A further three rate increases are forecast for this year.

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