The October Jobs Report Gives Fed Officials a Green Light to Raise Rates

November 6, 2015 3:21 PM

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The October Jobs Report Gives Fed Officials a Green Light to Raise Rates

Forget about nuance. The October jobs report left little doubt the U.S. labor market is back with a vengeance after a two-month lull.

The 271,000 gain in payrolls was the biggest this year and exceeded all estimates in a Bloomberg survey of economists, a Labor Department report showed Friday. The jobless rate fell to a seven-year low of 5 percent and average hourly earnings over the past 12 months climbed by the most since 2009.

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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