Hiring Blew Past Expectations With 256,000 Jobs Added

The U.S. economy added 256,000 jobs last month and the unemployment rate edged down, the Labor Department said Friday.

December’s gain in nonfarm payrolls was well above the 155,000 jobs that economists had expected, according to a Wall Street Journal survey. The 4.1% unemployment rate was also better than the expected 4.2%.

The results were the latest sign that the U.S. labor market has recovered from its midyear stumble and may even be gaining steam. But Friday’s job report also shuts the door on a rate cut at the Federal Reserve’s next meeting, which is Jan. 28-29, and reduces the chances of a cut at its subsequent meeting in March.