December Jobs Report Exceeds Expectations

2024 ending with a bang in the jobs market, 256,000 jobs created in the month of December far more than expectations of 155,000.

Transcript

00:002024 ending with a bang in the jobs market.

00:03256,000 jobs created in the month of December,

00:07far more than expectations of 155,000.

00:10The unemployment rate edging down to 4.1%.

00:14The markets, though, reacting negatively to the news,

00:17believing the jobs number will lessen interest rate cuts

00:20from the Federal Reserve.

00:22The Dow sunk 330-plus points at the open,

00:24the S&P falling 1%,

00:26and the Nasdaq the biggest drop,

00:28down nearly 1.5% at open.

00:31Despite polls showing the American people

00:33think the economy is struggling,

00:35the U.S. economy actually added 2.2 million jobs in 2024,

00:41over double the number expected by economists

00:44heading into the year.