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.
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.
Read Saturday's Arkansas Democrat-Gazette for full details.