U.S. businesses added 199,000 new jobs in November, reducing the US unemployment rate from 3.9 to 3.7 percent, according to reports. This has kept the US jobless rate below 4 percent for almost two years - the longest streak since the 1960s. The figures were boosted by the return of some 40,000 workers in the auto industry and actors. The labor market’s performance is seen as evidence of an economy rebounding to its pre-pandemic levels. Employers are facing reduced pressure to offer increased pay to attract potential employees, a factor that could help control inflation. The healthcare industry, hotels, restaurants and government departments notably registered job growth, while retail, shipping and warehousing industries, and temporary help agencies saw jobs cut.

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