Summary:
US job growth surged in December, with unemployment falling to 4.1%, ending the year strong and suggesting the Fed may slow loosening.
Jan NFP
7/2/2025 (Fri)
Previous (Dec)：256k Forecast: 170k
US job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1% as the labour market ended the year on a solid footing, reinforcing views that the Fed could slow its pace of loosening.
An increase of 256k jobs, which was well above the forecast for 160k, marked the most since March. The report also showed a decline in the number of people who have permanently lost their jobs.
Hiring has slowed in the aftermath of hefty rate hikes in 2022 and 2023, but historically low layoffs is still powering the economy by supporting consumer spending via higher wages.
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