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US jobless rate falls to three-year low of 8.5pc

JOBS in the US market grew last month while the unemployment rate fell to 8.5pc showing positive signs of growing economic activity.

Depite the payroll counts for October and November revised down to show 8,000 less jobs were created than previously thought, the December figures will be welcomed as the world’s biggest economy needs to sustain current rates of job creation.

Non-farm payrolls increased by 200,000 last month – well above economists expectations of a 150,000 gain.

But there are still over 20 million Americans either out of work or with part-time jobs.