Hiring stayed strong in November, with employers adding 263,000 jobs

U.S. employers continued to hire steadily in November, adding 263,000 jobs despite the Fed’s efforts to slow down the labor market. 

The unemployment rate stayed level at 3.7%, the U.S. Bureau of Labor Statistics said on Friday.

Wage growth sped up, with average pay increasing 5.1% over the last 12 months—below the rate of inflation, but much higher than the Federal Reserve wants to see as it tries to cool the economy.

This is a developing story.