Jobs report bolsters December rate hike case
In a show of domestic strength, the jobless rate hits a 71/2-year low
Washington
US job growth surged in October after two straight months of tepid gains, with the unemployment rate hitting a 71/2-year low in a show of domestic strength that makes it almost likely the Federal Reserve will hike interest rates in December.
Non-farm payrolls increased 271,000 last month, the largest rise since December 2014, the Labor Department said on Friday. In addition, average hourly earnings increased nine US cents last month. The solid gains added to robust car sales in painting an upbeat picture o…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Oil prices steady after Iran plays down reported Israeli attack
G7 pledges swift aid for Ukraine, seeks to calm Middle East
H5N1 strain of bird flu found in milk: WHO
China moves to boost foreign investment in domestic tech companies
Xi orders China’s biggest military reorganisation since 2015
Warner Bros CEO earned US$49.7 million in strike-impacted year