U.S. hiring was solid in January as the unemployment rate hovered at its lowest level in 17 years and wage growth picked up to its strongest pace since the recession.

Nonfarm payrolls rose a seasonally adjusted 200,000 in January, the Labor Department said. The unemployment rate held steady at 4.1%, its lowest level since December 2000, for the fourth straight month. Wage growth accelerated, with average hourly earnings for private-sector workers climbing 0.34% on the month and up 2.9% over the past year.

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