The US economy added fewer jobs than expected last month, tempering enthusiasm about an acceleration in the recovery and cementing expectations that the Federal Reserve will not scale back its $600bn (£385bn) stimulus programme. According to the Department of Labour, only 103,000 jobs were created in December even as the unemployment rate fell to 9.4%, its lowest since May 2009. Economists had forecast a much higher pace of job creation based on strong US economic data over recent weeks. Financial Times, World News, p5