America’s job market rebounded in November, adding 227,000 workers in a solid recovery from October, when the effects of strikes and hurricanes had sharply diminished employers’ payrolls. Retired Ripon College economist Paul Schoofs says last month’s hiring growth was up considerably from a meager gain of 36,000 jobs in October. Friday’s government report provided the latest evidence the U.S. job market remains durable even though it has lost significant momentum from the 2021-23 hiring boom. The job market’s gradual slowdown is, in part, a result of the high interest rates the Federal Reserve engineered in its drive to tame inflation.
