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StoneX Chief Market Strategist Kathryn Rooney Vera talks about the importance of cutting federal spending to make money.
The US economy added jobs faster than expected in December as Federal Reserve policymakers are keeping a close eye on labor market strength ahead of their meeting later this month .
The Labor Department reported Friday that employers added 256,000 jobs in December, well above the LSEG economists’ estimate.
The unemployment rate stood at 4.1%, slightly below economists’ expectations.
The number of jobs added in the previous two months was revised up, with job creation in October revised up by 7,000, from 36,000 to 43,000; while November was revised down by 15,000, from a gain of 227,000 to 212,000. Together, these two months generated 8,000 fewer jobs than previously reported.
Private sector payrolls added 223,000 jobs in December, well above the 135,000 estimated by LSEG economists.
The manufacturing sector saw a drop of 13,000 jobs in December, a surprising decline when economists had projected an increase of 5,000 jobs.
This is a developing story. Check back for updates.
