A gradual cooling of the still-solid labor market extended into November, renewing optimism the economy is still on a glide path for a soft landing.
Employers added a seasonally adjusted 199,000 jobs last month, the Labor Department reported Friday, slower than earlier in the year but consistent with gains before the pandemic. When excluding the effects of autoworker strikes in recent months, November’s job gain was roughly 169,000, slightly cooler than 180,000 in October. Most recent hiring occurred in two big sectors: healthcare and the government.
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