GoJS Support for Timeline element

Does GoJS have a canvas element that supports a timeline bar (milestone), out putting time and a label string, where by one can track the progress of lets say nodes in the GoJS swim lanes sample?

Not predefined, but you can implement it. For example, http://gojs.net/extras/workItems.html.

More generally, you can use a Grid Panel to produce regular-interval lines. For basic information: http://gojs.net/latest/intro/grids.html. And you might only have vertical lines, no horizontal ones.

You do need to add labels (probably TextBlocks) yourself at the desired positions.

For an actual example, look at: http://gojs.net/latest/samples/timeline.html

Note that you can resize the time line bar, and the layout automatically moves the nodes to maintain their position along the time line.