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US economy misses forecasts, adds 245,000 jobs in November as unemployment falls to 6.7%

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The US labor-market recovery continued through November, although the pace of new job additions slowed as soaring COVID-19 case counts and partial lockdowns cut into hiring activity.

American businesses added 245,000 nonfarm payrolls last month, the Bureau of Labor Statistics said Friday. The total landed well below the 460,000 additions expected by economists surveyed by Bloomberg. It also marked a drop from the revised 610,000 jobs added in October.

The US unemployment rate fell to 6.7 from 6.9%, according to the report, matching economist expectations. The rate has fallen steadily from the 14.7% peak seen after the details ⇒

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