Market Wire: Strong jobs reports bolster rate bets
263,000 jobs were created in the United States last month, and the unemployment rate remained unchanged – suggesting that the labour market remains too tight for the Federal Reserve’s liking. According to data released by the Bureau of Labor Statistics this morning, the unemployment rate held at 3.7 percent in November, and the participation rate moved down to 62.1 percent from 62.3 in the prior month, indicating that fewer workers are coming off the sidelines. Average hourly earnings rose 0.6 percent month-over-month, accelerating from the pace set in October. Ahead of the release, investors were positioned for a 200,000-job gain,...