U.S. job growth slowed more than expected in January, likely restrained by wildfires in California and cold weather across much of the country, but a 4.0% unemployment rate probably gives the Federal Reserve cover to hold off cutting interest rates at least until June.

Job growth slowed in January to 143,000 positions, with the unemployment rate ticking down to 4%. The latest figures from the Bureau of Labor Statistics offer a picture of the labor situation as Donald Trump takes office,

Weather conditions once again created significant headwinds for U.S. workers as job growth slowed more than expected in January. Employers added 143,000 jobs to nonfarm payrolls in January, according to the latest data published Friday by the Bureau of Labor Statistics.

U.S. job growth likely slowed in January, partly restrained by wild fires in California and cold weather across much of the country, though not enough for the Federal Reserve to resume interest rate cuts before the end of the first half.