Hiring, inflation numbers both up

A strong jobs report will likely play a role in the Federal Reserve’s next meeting in December, because while wages rose, they are still below the rate of inflation.

WASHINGTON (AP) — U.S. employers created a surprising 165,000 new jobs last month, and the unemployment rate dipped to 4.1%.

Hiring was far stronger than the 65,000 new jobs that economists had expected.

The jobs report comes three days after voters delivered a stunning defeat to President Donald Trump and his Republican Party in midterm elections. Frustrated with the state of the economy — and especially the high cost of living – Americans handed full control of Congress to the Democrats.

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