WASHINGTON, Dec 8 (Reuters) - U.S. job growth accelerated in November while the unemployment rate fell to 3.7%, signs of underlying labor market strength that suggested financial market expectations of an interest rate cut early next year were probably premature.

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.

Torsten Slok, chief economist at Apollo Global Management, recently estimated that wage growth was "sticky" and lodged between 4% and 5%, enough for Fed officials to conclude "that a higher unemployment rate is needed to get wage inflation down to levels consistent with the Fed’s 2% inflation target."

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.