Total nonfarm payroll employment increased by 256,000 in December, and the unemployment rate changed little at 4.1%, according to the U.S. Bureau of Labor Statistics’ latest employment report.

"The December jobs report highlights a stable labor market, with job gains exceeding expectations and a slight decline in the unemployment rate. Employers added an average of 186,000 jobs per month last year, showcasing resilience after concerns of a summer slowdown. This consistent growth continues to support a strong economy,” said America's Credit Unions Senior Economist Dawit Kebede. “Stable labor market conditions enable credit union members to secure new loans and repay existing ones on time, maintaining healthy asset quality.”