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Strong U.S. job growth, rising wages boost Dec rate hike prospects

November 4, 2016 7:12 PM
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WASHINGTON U.S. employers maintained a strong pace of hiring in October and boosted wages for workers, which could effectively seal the case for a December interest rate increase from the Federal Reserve.

Nonfarm payrolls increased by 161,000 jobs last month amid gains in construction, healthcare and professional and business services, the Labor Department said on Friday. The closely watched employment report was published four days before the Nov. 8 presidential election.

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