RALEIGH, North Carolina The latest U.S. jobs data showed a sharp fall in the unemployment rate in December, a top Fed official said on Friday.
Richmond Federal Reserve President Jeffrey Lacker told a business group the data backed the view of substantial progress on unemployment.
He declined to answer an audience question about the 74,000 rise in nonfarm payrolls last month, the smallest increase in nearly three years, as he had not yet read the full jobs report. Lacker said he understood that there may have been special factors at play.
(Reporting by Krista Hughes; Editing by James Dalgleish)