Summary: Non-farm payrolls increase by 199K in December; considerably less than 450K expected; previous two months’ figures revised up by 141K; jobless rate down to 3.9%, participation rate revised up to 61.9%; inflationary pressures building “rapidly” in US jobs market; jobs-to-population ratio increases to 59.5%; underutilisation rate falls from 7.7% to 7.3%; annual hourly pay growth slows to 4.7%; lack of available employees “adding to underlying inflation pressures.” The US...