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.
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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.