The jobless rate was forecast to fall to 5.6 percent, while average hourly earnings were seen rising 0.2 percent.
The Federal Reserve found that all 31 banks surveyed in this year's stress tests would stay solvent in a downturn.
Federal Reserve Chair Janet Yellen said the shrinking of big banks is "exactly what we want to see happen."
Janet Yellen announced the central bank would not be increasing interest rates for the “next couple of FOMC meetings.”
Wall Street is looking ahead to congressional testimony from Janet Yellen who will discuss the U.S. economy's health.
Economists will be looking for clues from the Federal Reserve’s latest minutes as to when the central bank will begin hiking interest rates.
The New York Fed said Tuesday that more students and auto borrowers fell behind in payments in the fourth quarter of 2014.
The dollar hit a new nine-year high and stocks worldwide headed for their first back-to-back rise of the year on Thursday.
Some economists are warning that the U.S. faces creeping deflation. Here's what that means and why economists fear it.
The Fed has held benchmark overnight rates near zero since December 2008.
The Federal Reserve replaced "considerable time" from its monetary policy Wednesday, promising to be "patient" when hiking rates.
Fed will decide this week whether to make a critical change to its policy statement that will widen the door for interest rate hikes next year.
U.S. wholesale prices fell last month, as lower gasoline prices begin to weigh on U.S. inflation.
The Federal Reserve is slated to review its oversight of big banks after critics called it out for being too close to Wall Street.
Dudley was speaking at a luncheon hosted by the United Arab Emirates central bank in Abu Dhabi.
Fourteen of 19 primary dealers, or the banks that deal directly with the Fed, said they expect the first rate hike by June 2015, with borrowing costs rising to 1 percent at the end of that year.
The Fed’s statement will be read for signs of how inflation, growth and financial market volatility have influenced U.S. policymakers.
“The economy is growing consistently and at a faster pace than it was prior to QE3.”
New York Federal Reserve Bank President William Dudley said banks should pay employees in debt securities for their annual incentive pay.
U.S. stock futures remained under pressure on Thursday despite the government reporting better-than-expected data on the labor front.
The AIG bailout terms were made "to minimize the windfall" to shareholders, Ben Bernanke testified.
Investors will parse the central bank's words closely for any clues on the timing of the first U.S. rate hike in more than eight years.