The Labor Department released its jobs report for January which showed that the U.S. economy added 143,000 jobs last month, which was below with economists' expectations.

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.

January job growth in the United States in January dropped drastically from December numbers and fell short of analysts' expectations according to a Bureau of Labor Statistics report released Friday.

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.