WASHINGTON, Nov 6 (Reuters) 

U.S. job growth surged in October after two straight months of tepid gains, with the unemployment rate hitting a 7-1/2-year low in a show of domestic strength that makes it almost likely the Federal Reserve will hike interest rates in December.

Non farm payrolls increased 271,000 last month, the largest rise since December 2014, the Labor Department said on Friday.

In addition, average hourly earnings increased 9 cents last month. The solid gains added to robust automobile sales in painting an upbeat picture of the economy at the start of the fourth quarter.

The unemployment rate fell to 5.0 percent, the lowest level since April 2008, from 5.1 percent the prior month. The jobless rate is now at a level many Fed officials see as consistent with full employment.

Payrolls data for August and September were revised to show 12,000 more jobs created than previously reported.

Last edited by DollyLongstaff (11/06/2015 11:10 am)