This past January U.S. nonfarm payrolls grew by a seasonally adjusted 257,000 jobs according to the Bureau of Labor Statistics. Surprisingly, though, the unemployment rate rose slightly from 5.6% to 5.7%. The reason for the rise in unemployment despite job growth is likely due to discouraged workers now looking for jobs. This might represent growing confidence in the economy among the U.S. working age population. The rise in average hourly wage between December and January was 0.5%, beating expectations of 0.3%. Interestingly, this job growth came in light of the contracting oil and gas market, where jobs fell by 1,900. On the other hand, retail, manufacturing, and construction jobs made up for this deficit and posted the biggest gains. Analysts are interested to see if this job growth trend will spark any new action from the Fed.