U.S. payrolls grew by 256,000 in December, much more than expected; unemployment rate falls to 4.1%
Posted: Jan 10, 2025
- Job growth in December 2024 surpassed expectations, with nonfarm payrolls up by 256,000
- Unemployment rate decreased to 4.1%
- Stock market futures were negative after the report, while Treasury yields increased
- Wages grew slightly less than expected, with average hourly earnings up 0.3%
- Strong job growth from sectors like health care, leisure, hospitality, government, and retail
- Revisions to prior months were not as significant as in recent trends.
- U.S. payrolls grew by 256,000 in December, surpassing expectations
- Unemployment rate falls to 4.1%
- Strong job growth may reduce likelihood of Federal Reserve cutting interest rates
- Stock market futures were negative and Treasury yields soared after the report
- Average hourly earnings increased slightly less than expected at 0.3%
- Job growth seen in health care, leisure and hospitality, government, and retail sectors
- Labor market operating at strength as Fed considers next moves on monetary policy.
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