November added 211,000 more jobs to the economy, according to data released by the Bureau of Labor Statistics. The unemployment rate is staying close to its five-year low at 5 percent.
Job increases were seen in several sectors, including food services and retail. The good stats for job growth will hopefully make it easier for the Federal Reserve to raise the interest rates. If that happens it will be the first rise in interest rates in almost ten years. The US central bank puts a high value on the labor market when it considers what to do with interest rates.
The Fed will be meeting on December 15 and 16, and will decide then what to do with interest rates.
Sorry, comments are closed for this post.