The Labor Department released its jobs report for December, which showed the U.S. economy added 256,000 jobs last month, well above economists' expectations.

The U.S. labor market cooled substantially in 2024, as employers sharply curtailed hiring and workers faced increasing difficulty finding jobs, although there are no signs of a recession.

Payrolls: 256,000 jobs added in December vs. 153,000 expected, according to economists surveyed by FactSet. Unemployment rate: 4.1%, down from 4.2% in November. Revisions: October