The surprising 256,000 increase in new jobs in December and a declining unemployment rate is good news, but the latest employment reports masks recent softness in the labor market. The increase in new jobs in December, for example, was centered on just four industries: Health care, government, retail and leisure and hospitality.

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 Labor Department reported Friday that 265,000 jobs were added to the U.S. economy in December, which was roughly 100,000 more than expected. The unemployment rate also fell to 4.1%. CBS News contributor Javier David explains why investors see the better-than-expected jobs report as a bad thing.

The Federal Reserve has been "less focused on the job market recently," and today’s better-than-expected employment report "gives them more reason to put their attention elsewhere," said Ali Jaffery,

Minutes suggest that Fed policymakers were already returning to the data-dependent mindset in the face of the incoming Trump administration. Now investors can only wait and hope.

"I think really the market is saying maybe no rate cuts in 2025, and that the 10-year could very easily break well above 5%," Jeremy Siegel said.

The U.S. dollar rallied across the board on Friday after data showed the world's largest economy created more jobs than expected last month, reinforcing expectations that the Federal Reserve will pause its rate-cutting cycle at its policy meeting later this month.

The Labor Department estimates the economy added 256,000 jobs in December, indicating a resilient economy and labor market. For the Federal Reserve, which was already signaling a slowdown in rate cuts,