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Job seekers wait to meet with employers at a career fair in New York City in this file photo from October 24, 2012. U.S. employers hired more workers than expected in November and the jobless rate fell to a five-year low of 7.0 percent, the Labor Department said December 6, 2013. REUTERS/Mike Segar

U.S. unemployment rate hits five-year low, eyes on the Fed

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By Lucia Mutikani

WASHINGTON (Reuters) - U.S. employers hired more workers than expected in November and the jobless rate fell to a five-year low of 7.0 percent, raising chances the Federal Reserve will start ratcheting back its bond-buying stimulus sooner rather than later.

Nonfarm payrolls increased by 203,000 new jobs last month, the Labor Department said on Friday.

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