US Job Growth Slows in November but Stays Solid as Unemployment Dips
• US economy added 199,000 jobs in November, a robust reading showing continued economic growth • Unemployment rate fell slightly to 3.7% from 3.9% the previous month • Job growth has slowed this year as the Fed raises interest rates to fight inflation • November job gains were inflated by ending of strikes, underlying pace of growth has decelerated • Fed likely to keep rates steady for now, but rate cuts may still be months away