Jobs bolster case for Fed to taper asset purchases

Labour report card: A woman entering a store next to a sign advertising job vacancies at Times Square in New York City. Non-farm payrolls rose by 943,000 jobs last month, beating the forecast of economists. — Reuters

NEW YORK: US employment data showing strong job gains, a sharp drop in the unemployment rate and a rise in wages last month is likely to push the Federal Reserve (Fed) closer to paring its massive support for the economy.

It certainly helps meet Fed governor Christopher Waller’s bar for doing so.