WASHINGTONU.S. job growth surged in October and the unemployment rate hit a 7-1/2-year low of 5.0 percent in a show of economic strength that makes it much more likely the Federal Reserve will raise interest rates in December.
Nonfarm payrolls increased 271,000 last month, the largest rise since December 2014, the Labor Department said on Friday. In addition, average hourly earnings rose a respectable 9 cents.
15:02 U.S housing starts surge in December; jobless claims near 43-year low13
06:13 Pound quivers near three-month low, stocks weak before May's Brexit stance speech19
05:09 Sterling slides to 3-month lows on 'hard Brexit' fears13
01:03 Sterling slides to three-month lows on 'hard Brexit' fears15