US adds healthy 211K jobs; jobless rate steady at 5 pct.
Published 10:01 am Friday, December 4, 2015
WASHINGTON — The U.S. economy generated another month of solid hiring in November, making it highly likely that the Federal Reserve will raise interest rates from record lows this month.
The Labor Department said Friday that employers added 211,000 jobs, led by big gains in construction and retail. And the government revised up its estimated job growth for September and October by a combined 35,000.
The unemployment rate remained a low 5 percent for a second straight month. More Americans began looking for jobs in November, and most found them.
Employers have now added an average 213,000 jobs a month over the past six months. The robust hiring indicates that consumer spending is powering the economy even as weak growth overseas and low oil prices squeeze U.S. manufacturers and drillers.
Investors cheered the jobs report, with the Dow Jones industrial average rising 200 points a half hour after trading began. The yield on the 10-year Treasury note was little changed at 2.3 percent.