US added 256,000 jobs in December

Market: Coal, Electricity, Metals, Natural gas
10/01/25

The US added 256,000 nonfarm jobs in December, reflecting a robust labor market that may prompt the Federal Reserve to keep borrowing costs higher for longer.

Analysts had expected gains of about 160,000 jobs for December.

The gains last month followed 212,000 more jobs in November, which were downwardly revised by 15,000, the Labor Department said Friday. Job gains in October were revised up by 7,000 to 43,000 jobs.

The CME's FedWatch tool today showed 97.3pc probability Fed policy makers will keep the target lending rate unchanged at 4.25-4.5pc at the next Fed meeting at the end of the month, up from 93.6pc on Thursday. FedWatch shows nearly 60pc probability of no change through the May meeting, up from about 45pc Thursday.

Unemployment edged down to 4.1pc in December from 4.2pc the prior month.

Payroll employment gains averaged 186,000/month in 2024, for total gains of 2.2mn jobs. That was down from 251,000 jobs/month in 2023, for total gains of 3mn jobs that year.

Health care added 46,000 jobs in December, retail trade added 43,000 jobs, government jobs rose by 33,000, social assistance increased by 23,000, and leisure and hospitality added 43,000 jobs.

Construction added 8,000 jobs in December. Manufacturing lost 13,000 jobs and mining and logging lost 3,000 jobs. Transportation and warehousing jobs grew by 9,600.

Average hourly earnings grew by an annual 3.9pc following 4pc growth in November.

By Bob Willis

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