Average hourly earnings increased 0.4% after gaining 0.2% in October. That kept the annual increase in wages at 4.0% in November.

A gradual cooling of the still-solid labor market extended into November, keeping the U.S. economy on a glide path for a soft landing.

Federal Reserve officials will look at new wage data due out Friday to confirm what many have come to suspect: That rising worker pay at this point is helping to keep the U.S. economy growing at a modest pace without fanning the inflationary pressures they are trying to squelch.

Interest rate increases have taken the edge off labor demand, but unemployment dipped in November, and wages rose more than expected.

The US economy generated just under 200,000 jobs last month, beating forecasts and dampening market speculation that the country’s central bank will cut interest rates early next year. Official

The United States saw its jobless rate edge down in November while hiring rose more than expected, government data showed Friday, as policymakers mull the need for further efforts to cool the economy.