Unemployment Drops to 5%
The US economy added 271-thousand jobs in October, pushing the unemployment rate to its lowest level since 2008. The unemployment rate fell to just 5-percent. Wages are up too—Average hourly earnings rose 2-point-five-percent, its best gain in years. Today’s Jobs Report is better than expected, and experts say that increases odds the Federal Reserve will raise interest rates in December. Rates have been at zero since the financial crisis in 2008.