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*In January, average hourly earnings for all employees on private nonfarm payrolls increased by 12 cents to $25.39. Over the year, average hourly earnings have risen by 2.5 percent. In January, average hourly earnings of private-sector production and nonsupervisory employees rose by 6 cents to $21.33.
==GDP & DOW== Real gross domestic product -- the value of the goods and services produced by the nation’seconomy less the value of the goods and services used up in production, adjusted for pricechanges -- increased at an annual rate of 0.7 percent in the fourth quarter of 2015, according to the"advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDPincreased 2.0 percent. The Bureau emphasized that the fourth-quarter advance estimate released today is based onsource data that are incomplete or subject to further revision by the source agency (see the box on page 4and "Comparisons of Revisions to GDP" on page 5). The "second" estimate for the fourth quarter, basedon more complete data, will be released on February 26, 2016. The increase in real GDP in the fourth quarter primarily reflected positive contributions frompersonal consumption expenditures (PCE), residential fixed investment, and federal governmentspending that were partly offset by negative contributions from private inventory investment, exports,and nonresidential fixed investment. Imports, which are a subtraction in the calculation of GDP,increased. The deceleration in real GDP in the fourth quarter primarily reflected a deceleration in PCE anddownturns in nonresidential fixed investment, in exports, and in state and local government spendingthat were partly offset by a smaller decrease in private inventory investment, a deceleration in imports,and an acceleration in federal government spending. Real gross domestic purchases -- purchases by U.S. residents of goods and services whereverproduced -- increased 1.1 percent in the fourth quarter, compared with an increase of 2.2 percent in thethird.
[http://www.bea.gov/index.htm BEA]
==DOW Jones Industrial Average==
[http://www.marketwatch.com/investing/index/djia Market Watch]
