>> The upbeat economic news just keeps on coming. The U.S. unemployment rate dropping sharply in November to 4.6%, a low not seen in nine years. The rate falling as employers continue to hire at a steady clip. I'm Reuters reporter
] in New York, the labor department announcing Friday, 178,000 new jobs were created in the month of November.
But not the low paying jobs that economist have been complaining about ever since the financial crisis. The biggest job gains in November came in business and professional services, which tend to come with a bigger paycheck. But not all workers will be happy when they look at their paychecks.
Average hourly earnings taking a step back in November, falling after two straight months of solid gains. Just a minor setback though wages have actually risen over the past year at the fastest rate since the financial crisis. The jobs report is just the latest in a string of upbeat economic signals, including a rebound in manufacturing activity, a solid housing market and a consumer who's willing to spend during the crucial holiday shopping season.
The burst of economic activity, leaving little doubt that a December rate hike by the Federal Reserve is a sure thing.