Employment data showed the pace of hiring slowing substantially in November. WSJ’s Eric Morath breaks down why the labor-market recovery has lost its momentum. Photo: Jeff Chiu/Associated Press U.S. job growth slowed sharply in November, suggesting the labor-market recovery is losing steam amid a surge in coronavirus cases and new business restrictions. Employers added 245,000 jobs last month , down from 610,000 jobs in October, the Labor Department reported Friday. The unemployment rate edged down slightly to 6.7% in November from 6.9% a month earlier, but that was partly because fewer Americans were seeking work. November marked the seventh consecutive month of job gains at a steadily cooling pace. The labor market has now regained 12 million of the 22 million jobs lost at the onset of the pandemic. At November’s pace of job growth, employment wouldn’t return to pre-pandemic levels until 2024, Glassdoor senior economist Daniel Zhao said. […]