drop in unemployment to 5%,extra 270000 people in work and slight wage increase likely to trigger first increase in decadeThe US appears to be on course for its first interest rate rise in almost a decade next month after higher than expected job creation pushed the unemployment rate down to 5%.
Non-farm payrolls – employment in all sectors barring agriculture – increased by 271000 in October, according to official figures published on Friday, and compared with 142000 the preceding month and above the 185000 that economists polled by Reuters had expected.
Related: Janet Yellen says December interest rate hike is still on the table Related: US economy smashes expectations to add 271000 jobs in October Continue reading...
Source: theguardian.com