Payroll growth decelerated in December but was still better than expected, a sign that the labor market remains strong even as the Federal Reserve tries to slow economic growth.Stock market futures rallied following the release as investors look for signs that the jobs picture is cooling and taking inflation lower as well.The relative strength in job growth comes despite repeated efforts by the Fed to slow the economy, the labor market in particular.As of November, there were about 1.7 job openings for every available worker, an imbalance that has held steady despite the Fed's rate hikes.A more encompassing measure of unemployment that takes into account discouraged workers and those holding part-time jobs for economic reasons also declined, falling to 6.5%, its lowest-ever reading in a data set that goes back to 1994."