U.S. Rate Futures- Rate hike expectations up on jobless report

CHICAGO, March 5 (Reuters) - U.S. short-term interest rate futures traders boosted expectations the Federal Reserve will raise its key target rate, after a government report showing payrolls fell less than expected in February.

Implied prospects that the Fed will raise its target for overnight lending between banks by its November meeting rose to nearly 100 percent, based on trading in the November Fed funds futures contract at the Chicago Board of Trade. Prospects for a rate increase by that meeting had been at about 90 percent before the February jobless figures were reported. (Reporting by Ann Saphir; Editing by Theodore d'Afflisio)