US adds 210,000 jobs in November ahead of discovery of Omicron variant

The US economy added 210,000 jobs in November, less than half the jobs growth that economists had expected in a report that was compiled before the discovery of the Omicron coronavirus variant that now threatens to derail the economic recovery from the pandemic.

The unemployment rate dropped to 4.2% as employers added jobs in business services, transportation, warehousing and construction. The overall gain was less than half the 500,000 plus jobs that economists had expected to be added over the month.

It remains to be seen whether the Omicron variant will have a similar damping effect on the jobs market. The Organisation for Economic Co-operation and Development (OECD) thinktank warned this week that Omicron and rising inflation could prove significant threats to the global economy.