Kathryn Rooney Vera, chief market strategist at StoneX, discusses the importance of cutting federal spending to make money.
The U.S. economy added jobs faster than expected in December as Federal Reserve policymakers closely monitor the strength of the labor market ahead of their scheduled meeting later this month.
The Labor Department reported Friday that employers added 256,000 jobs in December, well above the estimate by LSEG economists.
The unemployment rate stood at 4.1%, slightly lower than economists’ expectations.
The number of jobs created over the previous two months was revised, with October job creation 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.
The private sector payroll created 223,000 jobs in December, much more than the 135,000 estimated by LSEG economists.
The manufacturing sector saw employment fall by 13,000 in December, a surprise drop when economists had forecast a gain of 5,000 jobs.
This is a developing story. Please check again for updates.
