The U.S. economy added 256,000 jobs in December, significantly surpassing the forecasted 160,000. This growth was a notable increase from November’s revised figure of 212,000. The unemployment rate also dropped to 4.1%, lower than the anticipated 4.2%. Following the report, bitcoin experienced a sharp decline of over 2%, falling to $92,800. The job market’s strength has led investors to reconsider expectations for Federal Reserve rate cuts in 2025, with the odds of a March rate cut dropping to 28% from 41%. The bond market reacted strongly, with the 10-year Treasury yield rising by nine basis points to 4.78%. Average hourly earnings increased by 0.3% in December, aligning with forecasts but lower than November’s 0.4%. On a yearly basis, earnings were up by 3.9%, slightly below the expected 4%.
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