Surprising Dec US payrolls jump supports longer Fed pause
- longer Fed pause
- unemployment rate fell to 4.1% from November's 4.2% as the labor market ended 2024 on a solid footing, reinforcing the Federal Reserve's cautious approach to interest rate cuts this year.
- Nonfarm payrolls increased by 256,000 jobs last month after rising by a downwardly revised 212,000 in November, the Labor Department said on Friday. Economists polled by Reuters had forecast payrolls advancing by 160,000.
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