US unemployment rate falls to 3.5% in November

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The US non-farm unemployment rate fell to 3.5% in November, down from 3.6% in October, according to the Bureau of Labor Statistics.

Total payroll employment rose by 266k, which was above market expectations of a 181K rise.

The market had expected the jobless rate to remain steady at 3.6%. Average hourly earnings roseby 7 cents, or 0.2%, to $28.29, missing expectations of a 0.3% improvement.