The U.S. economy added 215,000 jobs in November, the largest gain since two hurricanes hit the Gulf Coast, and the unemployment rate held steady at 5.0 per cent, the Department of Labor announced Friday. Strong job growth could result in an increasing purchasing power of U.S. consumers, which could mean that the Federal Reserve will continue to raise interest rates, experts said. The new jobs are also an additional sign that the U.S. is recovering from the shock it received when two powerful hurricanes hit the U.S. Gulf Coast in August and September, devastating the area and sending energy prices to new highs. This week the White House announced that it expects the gross domestic product to grow 3.5 per cent this year, eclipsing a June forecast. The unemployment rate for white Americans inched down to 4.3 per cent in November, while that for blacks soared 1.5 per cent to 10.6 per cent. --SP 2238 Local Time 1938 GMT
