WASHINGTON — A fourth straight month of solid hiring cut the U.S. unemployment rate in November to a five-year low of 7 percent. The gains in the job market could spur greater economic growth.

The Labor Department said today employers added 203,000 jobs, nearly matching October’s revised gain of 200,000. The job gains helped lower the unemployment rate from 7.3 percent in October.

The strengthening job market is likely to fuel speculation the Federal Reserve may scale back its bond purchases when it meets later this month.

The economy has now generated an average of 204,000 jobs from August through November. That’s up from 159,000 a month from April through July.

Many of the November job gains were in higher-paying industries. Manufacturers added 27,000 positions, the most since March 2012. Construction firms gained 17,000. The two industries have created a combined 113,000 jobs in the past four months.

Another month of robust hiring follows other positive economic news. The economy expanded at an annual rate of 3.6 percent in the July-September quarter, the fastest growth since early 2012, the government said Wednesday.

Still, nearly half that gain came from businesses building their stockpiles. Consumer spending grew at the slowest pace since late 2009.

Greater hiring could support healthier spending. Job growth has a dominant influence over much of the economy. If hiring continues at the current pace, a virtuous cycle starts to build. More jobs usually lead to higher wages, more spending and faster growth.

But more higher-paying jobs are also necessary. Roughly half the jobs that were added in the six months through October were in four low-wage industries.