US economy added 199,000 new jobs in December as unemployment rate drops – as it happened

Fewer jobs created in December than expected, although October and November's payroll revised higher

• Latest: NFP shows 199k new jobs created in America last month
• Unemployment rate falls to 3.9%
• Hourly earnings jump 0.6%

Earlier:

• Eurozone inflation highest since euro created
• US construction growth slows amid Omicron
• UK house prices jumped 9.8% last year
• Omicron curbs hit beer and cider sales

Oil giant Shell is pressing on with its $7bn share buyback programme, as it benefits from the surge in gas prices this winter.

Shell said this morning that its cash return to shareholders, using the proceeds of last year's sale of its Permian Basin business to ConocoPhillips, would continue at pace" in 2022.

In 2021 we saw the average house price reach new record highs on eight occasions despite the UK being subject to lockdown for much of the first six months of the year,"

Our expectation is that house prices will maintain their current strong levels but that growth relative to the last two years will be at a slower pace."