Economy: Improving picture

Temperatures may be warming if only by a little, and the job market too seems to be heating up. Just two days ahead of a Labor Department`s December jobs report, the payroll firm ADP said a far better than expected 238,000 private sector jobs were added in the month of December, the most in 13 months. Nearly 11 million Americans, though, remain out of work.

But the hopeful moves in the labor market were not lost on the Federal Reserve. And minutes from the Central Bank`s latest meetings show that part of the reason the Fed decided to start tapering its stimulus program is the improving employment picture.

Steve Liesman reports.

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