Image copyright Getty Images Expectations of a rise in US interest rates in December have soared following a stronger-than-expected jobs report. The US economy added 271,000 jobs in October, far exceeding the 185,000 jobs that economists had forecast. That strong number has raised expectations that the US Federal Reserve will raise interest rates at its policy meeting in December.
The US economy added 271,000 jobs in October, which is much stronger than the 185,000 figure that economists had been expecting.
At its October meeting, the Fed said it was watching the global economy and US labour market for signs of strength.
The jobless rate fell to 5% – the lowest level in seven-and-a-half years.
There was positive news on previous reports, with the number of jobs created in August and September raised by a net 12,000. Read more...