Summary: Non-farm payrolls up 223,000 in November, greater than expected; previous two months’ figures revised down by 28,000; jobless rate declines to 3.5%, participation rate up; labour market report “solid”; employed-to-population ratio up; underutilisation rate down from 6.7% to 6.5%; annual hourly pay growth down from 4.8% to 4.6%; moderating wage growth “encouraging” for Fed. The US economy ceased producing jobs in net terms as infection controls began to be...