U.S. Job Growth Cools in November, Wage Growth Slows
• Hiring by U.S. companies unexpectedly cooled in November to 103,000 jobs added, below forecasts of 130,000 • Pay growth continued to slow, with annual wages up 5.6% in November - the lowest since September 2021 • Trade, transportation and utilities drove the biggest job gains with 55,000 new employees • Losses seen in manufacturing, leisure and hospitality, and professional and business services sectors • Data suggests moderating hiring and wage growth in 2024 as economy cools from pandemic recovery boost