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.

US jobs growth slowed in January, according to the latest official figures, but the rate of unemployment declined. Employers created 143,000 jobs last month, compared with analyst's forecasts of about 170,000. However, December's jobs figure was revised up to 307,000.