The U.S. economy added far more new jobs in January than expected.
According to the Bureau for Labor Statistics data, the economy added +517,000 new jobs last month -- crushing the Street consensus forecast of +185,000. Private payrolls added +443,000.
The unemployment rate dipped to 3.4%, the lowest levels since 1969.
Hourly wages rose 0.3% on the month, and up 4.4% year-over-year (vs. the Street forecast of 4.3%).