Headline Roundup • January 10th, 2025
US Adds 256,000 Jobs in December, Unemployment Falls to 4.1%
Summary from the AllSides News Team
The December jobs report surpassed expectations, decreasing the likelihood of more rate cuts from the Fed.
For Context: Economists expected an increase of 165,000 jobs and unemployment to hit 4.2%, instead the report came in nearly 100,000 higher.
The Future: The Wall Street Journal (Center bias) said the report shuts the door on any further rate cuts at the next Fed meeting at the end of January. “Barring a resurgence in inflation, economists expect the good times to continue into the new year—albeit with slower rates of hiring and GDP growth as the incoming Trump administration’s policies take shape,” it added.
How the Media Covered It: USA Today (Lean Left bias) gave a more comprehensive view of wage increases in 2024 and how Trump's policy may affect the economy in 2025, while ZeroHedge (Lean Right bias) gave a granular view of which industries contributed to the December jobs report.
Featured Coverage of this Story
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...
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...
BRIAN SNYDER, REUTERS
U.S. employers added a booming 256,000 jobs in December, shrugging off high labor costs, slowing sales and uncertainty about President-elect Donald Trump’s economic policies.
The unemployment rate fell from 4.2% to 4.1%, the Labor Department said Friday.
Economists surveyed by Bloomberg had estimated that about 165,000 jobs were added last month, based on their median forecast.
AllSides Picks
More News about Economy and Jobs on AllSides
News from the Left
News from the Center
News from the Right
Fox Business
