The non-farm data in the United States exceeded expectations, supporting the Federal Reserve to slow down the pace of interest rate cuts

On January 10, the Financial Times commented on non-farm data, stating that the United States created 256,000 jobs in December, exceeding expectations and supporting reasons for the Federal Reserve to slow down its pace of interest rate cuts. The number of employed people announced by the U.S. Bureau of Labor Statistics on Friday exceeded Reuters analysts' expectation of 160,000 people and was also higher than the revised figure of 212,000 in November. The unemployment rate was at 4.1%, compared to 4.2% in November. As December employment data were released, a sell-off occurred in global bond markets partly because people increasingly expect that the Federal Reserve will only slightly cut interest rates in 2025.