Catherine Rooney Vera, chief market strategist at StoneX, discusses the importance of cutting federal spending on creating money.
The US economy grew jobs faster than expected in December as Federal Reserve policymakers keep a close eye on the strength of the labor market ahead of a meeting later this month.
The Labor Department reported Friday that employers added 256,000 jobs in December, well above LSEG economists’ estimate.
The unemployment rate came in at 4.1%, slightly lower than economists expected.
The number of jobs added in the past two months were both revised upward, with job creation in October revised down by 7,000 to 43,000 from a gain of 36,000; While in November it was down 15,000 from a gain of 227,000 to 212,000. Overall, 8,000 fewer jobs were created in those two months than the year before.
Private sector payrolls added 223,000 jobs in December, far more than the 135,000 expected by LSEG economists.
Manufacturing employment fell by 13,000 in December, a surprise decline when economists had projected an increase of 5,000 jobs.
This is a developing story. Please check back for updates.
