US jobless rate falls to lowest level since July

Jobs growth in the US was stronger than expected last month, in part boosted as striking workers in Hollywood and the car industry returned to work.

Employers added 199,000 jobs in November, the Labor Department said.

That helped to push down the jobless rate to 3.7% - the lowest level since July - despite more people entering the workforce.

The monthly report is being closely watched as the US central bank tries to cool the economy to stabilise prices.

Investors are increasingly betting that the Federal Reserve has done enough - and may even start to reverse course next year - after raising interest rates to the highest level in more than two decades.

The latest figures are welcome news for jobseekers, but analysts said they suggest that debates over the central bank's next move will continue.

"Recent economic data has suggested that the labour market could be cooling off, but today's figures may derail hopes that the Fed will cut rates sooner, rather than later," said Richard Flynn, managing director at Charles Schwab UK.

"Today we have seen that, for employment, this month's job's report does not reflect the cooling that the market is likely hoping for."