Strong Jobs Report Keeps Fed on Track for December Hike
U.S. employers added 165,000 jobs in October and unemployment ticked down to 4.1 percent. The strong labor market report bolsters expectations that the Federal Reserve will raise interest rates again in December.
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United States employers added 165,000 jobs in October, driving the unemployment rate down to 4.1% and reviving expectations for a Federal Reserve interest-rate hike. The strong labor market report followed solid GDP and consumer spending data released the previous week.
