The US unemployment rate rose to 4.6 per cent in November, the highest level in more than four years, in a further sign of weakness in the labour market.
The world’s biggest economy added 64,000 jobs in November but shed 105,000 in October, bolstering the case for the Federal Reserve to cut interest rates further in the new year.
While Tuesday’s figure for new posts in November beat expectations of 50,000 among economists polled by Bloomberg, the loss of jobs in October was far greater, dragged down by a large decline of 162,000 in federal government employment.
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