StoneX Chief Market Strategist Kathryn Rooney Vera talks about the importance of reducing federal spending to generate revenue.
The U.S. economy added jobs at a faster-than-expected pace in December as Federal Reserve policymakers scrutinize the strength of the labor market ahead of their meeting later this month.
The Labor Department reported on Friday that employers added 256,000 jobs in December, well above the LSEG economists' estimate.
The unemployment rate reached 4.1 percent, which was slightly lower than economists' expectations.
The number of jobs added in the previous two months were both revised upward, with October job creation rising by 7,000 jobs to 43,000 from 36,000. While November fell by 15,000 from 227,000 to 212,000.
Private sector payrolls added 223,000 jobs in December, well above the 135,000 estimated by LSEG economists.
The manufacturing sector saw employment fall by 13,000 in December, a surprise drop when economists had forecast a gain of 5,000 jobs.
This is a developing story. Please check back for updates.