U.S. Adds 256,000 Jobs in December, Exceeding Forecasts; Unemployment Falls to 4.1%

Jan 10, 2025, 01:32 PM

The U.S. economy added 256,000 jobs in December, significantly surpassing economists' expectations of around 160,000, according to the latest Labor Department report. The unemployment rate fell to 4.1%, beating forecasts of 4.2%, marking a strong end to the year for the labor market. Despite a net revision of -8,000 jobs over the prior two months, job growth remained robust. Private payrolls increased by 223,000, while manufacturing payrolls declined by 13,000, missing the estimate of a 5,000 gain. Average hourly earnings increased by 0.3% month-over-month, aligning with estimates, and rose 3.9% year-over-year, slightly below the anticipated 4.0%.