US economy adds 178,000 new jobs making Fed rate hike likely

US economy adds 178,000 new jobs making Fed rate hike likely

The November jobs report revealed that 178,000 jobs were added this month as well the unemployment rate dropping to the lowest it has been since August 2007, nine years ago. These promising figures indicate that the job market is looking healthy which could prompt the reality of a federal hike in interest rates to happen this month. The implications of this hike point to the fact that job creation and the labor market is producing favorable results, but to what degree is the question. Depending on Trump’s highly anticipated business policies, we should see more positive results in 2017. If the job market continues this path of improvement another hike could be in the near future.

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