Hotter-than-expected jobs report bolsters dollar
The US job creation engine kept humming in November, suggesting that the Federal Reserve has farther to go in slowing the economy – policymakers may have to hold rates at prevailing levels for longer. According to data released by the Bureau of Labor Statistics this morning, 199,000 jobs were added, and the unemployment rate crept lower to 3.8 percent, heading back toward historic lows. Average hourly earnings rose 0.4 percent year-over-year, solidly topping expectations. Ahead of the release, consensus estimates had pointed to a 180,000-job gain (although the “whisper number” was likely lower) and the unemployment rate was seen holding...