US wage growth accelerates as Trump prepares to take office

US wage growth accelerates as Trump prepares to take office

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

“Once Trump is in the White House, politics could potentially have as much an influence on the direction of rates and markets than the underlying economy. The US, economically and politically, is about to enter the unknown.”

Wages in the US grew at their fastest pace since 2009 last month, pointing to continued momentum in the labour market and putting the country on course for a string of interest rate rises this year.

Average hourly earnings increased by 2.9pc compared with the year before, the largest annual increase in more than seven years, while 156,000 jobs were created in December.

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