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Does an Employment Boost Mean an Interest-Rate Bump?
Good news on the nation’s employment front! Hiring increased in October, dropping the national unemployment rate to just five percent.
The news may not be all good, however. The employment jump means that the U.S. Federal Reserve Bank could, quite likely, inch up interest rates, based on the improving economy.
There were 271,000 jobs added last month, and consumers are spending more on restaurants and other non-essential retail goods. The five percent national unemployment rate is slightly better than the 5.1 percent rate in September.
- ◦Economy
