US jobs growth at three-year high in October

US employers added the largest number of workers in nearly three years in October and wages increased. That could bring the Federal Reserve closer to raising interest rates.

Non-farm payrolls surged 321,000 last month, the most since January of 2012, the Labour Department said yesterday. The country’s unemployment rate held steady at a six-year low of 5.8%.

Data for September and October were revised to show 44,000 more jobs created than previously reported. Economists had forecast payrolls increasing by only 230,000 last month.