The U.S. economy added a smaller-than-expected tally of new jobs last month, but a sharp jump in wage growth and revisions tied to population changes and immigration make for a noisy report that might not indicate broader strength in the labor market.

The central bank is grappling with how quickly to lower interest rates after pausing cuts last month.

The Federal Reserve on Wednesday hit pause on interest rate cuts in its first key decision of President Donald Trump’s second term.

A strong January jobs report has investors believing the Federal Reserve likely won't be cutting interest rates in the near future.