Scorching Hot December Jobs: US Unexpectedly Adds Massive 256K Jobs In December, Smashing Estimates, As Unemployment Drops

With consensus expecting a 165K print today, and the whisper number coming in about 20K higher at 187K, traders were expecting a cooler than last month's 227K - but not too cool - and certainly not hot, jobs number this morning. Instead they got a red hot print at 256K nearly 100K higher - or a 4 sigma beat - above the median estimate of 165K with just one forecaster (Bloomberg's econ team) expecting a higher number at 268k.

The change in total nonfarm payroll employment for October was revised up by 7,000, from +36,000 to +43,000, but the change for November was revised down more, by 15,000, from +227,000 to +212,000. With these revisions, employment in October and November combined is 8,000 lower than previously reported.