US jobs rise paves way for Federal Reserve interest rate hike

US job growth increased solidly in November in a show of the economy’s resilience, which most likely paves the way for the Federal Reserve to raise interest rates this month for the first time in nearly a decade.

Non-farm payrolls increased 211,000 last month, according to the labour department, while September and October data was revised to show 35,000 more jobs than previously reported.

The unemployment rate held at a seven-and-a-half-year low of 5%, even as people returned to the labour force in a sign of confidence in the jobs market.