US unemployment rate holds at 5.0% on solid job creation

The US economy pumped out 211,000 new jobs in November, the Labor Department said Friday, a solid figure that supports the Federal Reserve beginning to raise interest rates this month.

The unemployment rate held at a seven-year low of 5.0 percent, and job creation numbers for the previous two months were revised upward, more indication that the US economy remains strong despite the global slowdown.