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. economy created a burst of new jobs in December, capping a solid year of employment growth marked by big gains in healthcare and government payrolls.

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.

The December jobs report is set to be released later Friday morning and it's expected to show slowing growth. According to a survey of forecasters by the data firm FactSet, U.S. employers are expected to have added 153,