According to the Labor Department’s October employment report, employers in the United States continued to increase hiring and wages. The US added 161,000 jobs in October alone, and the nation’s unemployment rate dropped from 5% to 4.9%. Strong employment coupled with wage gains is expected to boost spending this holiday season. All of these factors are pointing toward the Federal Reserve increasing interest rates at its meeting in December.
See "Strong U.S. job growth, rising wages boost December rate hike prospects", Lucia Mutikani, Reuters, November 4, 2016