U.S. Non-Farm Payrolls Data Beats Expectations, Supporting Fed to Slow Down Rate Cuts

BlockBeats News, January 10th, the Financial Times commented on the non-farm data, stating that the U.S. created 256,000 new jobs in December, exceeding expectations, and supporting the rationale for the Federal Reserve to slow down its rate cuts. The U.S. Bureau of Labor Statistics released employment numbers on Friday, surpassing the 160,000 expected by Reuters analysts and higher than the revised-down 212,000 in November. The unemployment rate was 4.1%, compared to 4.2% in November. As the December employment data was released, a global government bond sell-off occurred, partly because people are increasingly expecting the Fed to only make slight rate cuts in 2025. (Jin10)