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.

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

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.