December Labor Report: 256,000 New Jobs, Wages Up

CNBC reports:

Job growth was much stronger than expected in December, possibly providing the Federal Reserve less incentive to cut interest rates this year.

Nonfarm payrolls surged by 256,000 for the month, up from 212,000 in November and above the 155,000 forecast from the Dow Jones consensus, the Bureau of Labor Statistics reported Friday.

The unemployment rate edged down to 4.1%, one-tenth of a point below expectations. An alternative measure that includes discouraged workers and those holding part-time positions for economic reasons moved down to 7.5%, a decrease of 0.2 percentage point and the lowest since June 2024.

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🚨 BREAKING: The final jobs report under President Joe Biden is in—and it’s a strong finish. The US economy added 256,000 jobs in December, far exceeding expectations.

The unemployment rate dipped to 4.1%, while wages grew 3.9% over the past year—well above the 2.7% inflation… pic.twitter.com/bJaEI4wBkS

— Chris D. Jackson (@ChrisDJackson) January 10, 2025

JUST IN: U.S. employers added 256,000 jobs in December, surpassing economist expectations of 155,000 jobs added, U.S. Bureau of Labor Statistics data showed. The growth indicates President-elect Donald Trump will inherit a healthy economy. https://t.co/mlgzMd17m0 pic.twitter.com/mKyvgdwADJ

— ABC News (@ABC) January 10, 2025