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| US economy creates 161,000 jobs in October | US economy creates 161,000 jobs in October |
| (35 minutes later) | |
| The US economy created 161,000 jobs in October official figures show, which was close to analysts' expectations. | |
| Job creation for the months of August and September was revised up to 176,000 and 191,000 respectively. | Job creation for the months of August and September was revised up to 176,000 and 191,000 respectively. |
| The unemployment rate edged lower to 4.9%, according to the latest report from the US Department of Labor. | The unemployment rate edged lower to 4.9%, according to the latest report from the US Department of Labor. |
| The healthy labour market will support the view held by many analysts that the US Federal Reserve will raise interest rates next month. | The healthy labour market will support the view held by many analysts that the US Federal Reserve will raise interest rates next month. |
| Continued growth in wages will also bolster arguments for a rate rise. | |
| Average hourly earnings were up $0.10, or 0.4%, in October, a slight acceleration from September's 0.3% increase. | |
| Rate hike? | |
| "A solid employment report for October further clears the path for a December Fed rate hike," said Chris Williamson, chief business economist at IHS Markit. | |
| "It seems that the only remaining obstacle to the Fed hiking in December would be a significant adverse financial market reaction to the US presidential election," he added. | |
| Health care, professional and business services and the financial sector saw the strongest job creation in October. | |
| Data released last month showed that the US economy grew at the fastest pace in two years in the third quarter. | |
| The world's largest economy grew at an annual rate of 2.9% in the three months to September, according to the Commerce Department. |