The US economy closed out 2024 with another month of massive job growth, adding 256,000 positions in December.

Friday’s unexpectedly big increase in December nonfarm payrolls led to a diminished market-based likelihood for any rate cut by the Federal Reserve until September, based on one method of calculating expectations — and one big bank sees the risks tilting toward a rate hike.

Employers across the U.S. added a robust 256,000 jobs in December, a sign the labor market remains in good shape.

US hiring picked up unexpectedly in December as employers added 256,000 jobs, another sign of the economy’s resilience in the face of high interest rates. The Labor Department reported Friday that job growth was up last month from 212,

Employers added 256,000 jobs in December, far exceeding economists' expectations and signaling that the job market remains resilient in the face of still-high borrowing rates and stickier-than-expected inflation.