Robust U.S. jobs report bolsters case for December rate hike

November 6, 2015 2:38 PM

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Robust U.S. jobs report bolsters case for December rate hike

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.

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