Job growth surged in December, with nonfarm payrolls rising by 256,000, according to the Bureau of Labor Statistics. This figure surpasses the 155,000 forecast and November's revised 212,000. The unemployment rate fell to 4.1%, and broader unemployment, including discouraged and part-time workers, decreased to 7.5%; stocks dropped while Treasury yields spiked as traders reassessed the likelihood of Federal Reserve rate cuts this year. Market expectations now lean toward a slower pace of rate cuts, with futures pricing in a single cut this year. Economists suggest next week’s inflation data will be pivotal in shaping the Fed's monetary policy outlook.
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00:00It's Benzinga bringing Wall Street to Main Street. Job growth surged in December with
00:03non-farms payrolls rising by 256,000 according to the Bureau of Labor Statistics.
00:08This figure surpasses the 155,000 forecast in November's revised 212,000.
00:13The unemployment rate fell to 4.1% and broader unemployment.
00:17Including discouraged and part-time workers decreased to 7.5%.
00:21Stocks dropped while treasury yields spiked as traders reassessed the likelihood of Federal
00:25Reserve rate cuts this year. Market expectations now lean toward a slower pace of rate cuts
00:30with futures pricing in a single cut this year.
00:33Economists suggest next week's inflation data will be pivotal in
00:37shaping the Fed's monetary policy outlook.
00:39For all things money, visit Benzinga.com slash GSTV.