US economy added 256K jobs in December, well above expectations

foxbusiness.com:

StoneX chief market strategist Kathryn Rooney Vera discusses the importance of cutting federal spending on Making Money.

The U.S. economy added jobs more rapidly than expected in December as Federal Reserve policymakers are keeping close tabs on the strength of the labor market ahead of their meeting later this month.

The Labor Department on Friday reported that employers added 256,000 jobs in December, well above the estimate from LSEG economists.

The unemployment rate came in at 4.1%, slightly lower than economists' expectations.

The number of jobs added in the prior two months were both revised, with job creation in October revised up by 7,000 from a gain of 36,000 to 43,000; while November was revised down by 15,000 from a gain of 227,000 to 212,000. Taken together, those two months saw 8,000 fewer jobs created than previously reported.

Private sector payrolls added 223,000 jobs in December, much higher than the 135,000 estimated by LSEG economists.

The manufacturing sector saw employment fall by 13,000 in December, a surprise decline when economists projected a gain of 5,000 jobs.

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