January hiring was narrow. Healthcare (44,000 new jobs), retail (34,000) and government (32,000) together accounted for 77% of new jobs last month. Mines shed 8,000 jobs. The Labor Department said the Los Angeles wildfires and a cold snap in the Northeast and Midwest had “no discernable″ impact on the January jobs numbers.

U.S. job growth slowed more than expected in January after robust gains in the prior two months, but a 4.0% unemployment rate probably will give the Federal Reserve cover to hold off cutting interest rates at least until June.