US Unemployment Dips to 5.1 Percent
Things are looking up America, but an interest rate hike may soon be on the horizon.
The U.S. economy added 271,000 jobs and forcing a slight dip in the unemployment rate from 5.1 in September to 5.0 in October. 5 percent is often considered the threshold for full employment by the Federal Reserve which may finally decide to move on rates after years of uncertainty and turmoil and months of debate on the topic among economists.
Average hourly earnings also bounced back, rising 0.4 percent in October after showing no increase in September; that lifted the gain to 2.5 percent over the last 12 months, the healthiest since 2009.