Nonfarm payrolls rise at slower-than-expected rate in November

US employment accelerated at a much weaker-than-expected clip in November, while the unemployment rate fell from 6.8% to 6.7% despite a surge in the number of new Covid-19 cases.

According to the Labor Department, nonfarm payrolls increased by 245,000, softer than the gain of 460,000 predicted by economists.

The labour force participation rate also slipped - down 0.2 points to 61.5%.

November's growth brings total payroll gains since May to roughly 12.2m, but that figure still meant that nearly 10.0m positions cut in March and April were still unfilled.