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Jobless rate drops to 5-year low of 7%

November new hires higher than forecast, ditto October consumer spending; signs pointing to economy picking up momentum


EMPLOYERS added more workers than forecast in November and the jobless rate dropped to a five-year low of 7 per cent, showing further progress in the labour market that will help provide a spark for the US economy.

Adding to the sparkle, consumer spending rose more than...

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