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211,000 reasons why the path is clear for a Fed rate hike
The latest nonfarm payrolls number: 211,000 new jobs added in the US during the month of November can be seen as the final milestone on a long road towards a rate hike. It would be the first interest rate rise in almost ten years. After October's number of 271,000 the Fed chair Janet Yellen now has all she needs, in terms of jobs data, to go ahead with a widely expected raise. More importantly perhaps than the headline figure; wage growth and the unemployment rate remain steady.
06:18 minutes
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