Wage scene puts Fed rate hike in doubt

ROBUST job growth in the United States in November is creating a momentum that is expected to put pressure on policymakers at the Federal Reserve to take the final step in ending its loose post-Great-Recession monetary strategy and hike the Fed's benchmark interest rate - for the first time in nine years - at the last meeting of the Federal Open Market Committee (FOMC) later this month.

According to a new job report released by the Bureau of Labor Statistics at the Labor Department on Friday, the US added 211,000 jobs last month while the official unemployment rate remained at 5 per cent. The number of new jobs exceeded earlier expectations by analysts.

Job gains in November were evident in the construction and healthcare sectors. The professional and technical services also boosted growth in November. Another piece of good news: The job creation number for October was revised to 298,000 from 271,000, making it the best month for American jobs growth in 2015.