Jan 10 • Industry News
Economy U.S. payrolls grew by 256,000 in December, much more than expected; unemployment rate falls to 4.1%
Key Points
- Nonfarm payrolls surged by 256,000 for the month, up from 212,000 in November and above the 155,000 forecast.
- The unemployment rate edged down to 4.1%, one-tenth of a point below expectations. A broader jobless measure moved down to 7.5%, a decrease of 0.2 percentage point and the lowest since June 2024.
- Average hourly earnings increased 0.3% on the month, which was in line with forecasts, but the 12-month gain of 3.9% was slightly below the outlook.
- Stock market futures plunged after the report while Treasury yields soared as traders price in a lower probability of Fed rate cuts this year.
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Economy U.S. payrolls grew by 256,000 in December, much more than expected; unemployment rate falls to 4.1%
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