Job growth was much stronger than expected in December, possibly providing the Federal Reserve less incentive to cut interest rates this year.
Nonfarm payrolls surged by 256,000 for the month, up from 212,000 in November and below the 155,000 forecast from the Dow Jones consensus, the Bureau of Labor Statistics reported Friday.
The unemployment rate edged down to 4.1%, one-tenth of a point below expectations.
Stock market futures were negative after the report’s release while Treasury yields soared.
This is breaking news. Please check back for updates.
