U.S. job growth unexpectedly accelerated in December, while the unemployment rate fell to 4.1 percent. This reflects the strength of the labor market at the end of the year and reinforces the Fed's cautious approach to this year's rate cut.
According to the Labor Department's employment report, nonfarm payrolls increased by 256,000 jobs in December, following an increase of 212,000 jobs in November. Reuters had forecast an increase in jobs of about 160,000, after adding 227,000 jobs in November. Forecasts for the number of jobs in December ranged from 120,000 to 200,000.
Source (Al-Sharq Al-Awsat Newspaper, Edited)
