The Daily Money: The job market's finally cooling

The job market finally shows signs of cooling, which cuts the chances for more rate hikes. That's helping stocks have the best week this year.

Advertisement Read in browser Read in browser The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW Fri Nov 3 2023 Medora Lee | Money and Personal Finance reporter From layoffs to hiring freezes, there are signs that the job market in the U.S. is slowing. Here's what workers should know. Just the FAQs, USA TODAY Good morning! It's finally Friday, and we have more to cheer than just the weekend ahead. First, some of us get a few extra zzzz's this weekend when we turn our clocks back an hour because it's the end of daylight savings time. Second, the stock market is higher this morning and is on track for its best week this year! Unfortunately (or maybe fortunately), the reason stocks are rallying is that the Labor Department reported fewer-than-expected jobs were created last month and the unemployment rate ticked up to 3.9%, the highest since January 2022. This is good news because it means the Federal Reserve's aggressive rate hikes may finally be cooling the economy enough for it to stop raising rates, but maybe not such good news if you're looking for a job . See what I mean? Guess we'll have to wait and see how this story ends. Stay tuned. 📰 More stories you shouldn't miss 📰  Goodbye clouds, hello sunshine: Amazon founder billionaire Jeff Bezos announced he's leaving Seattle, moving to Miami Jurors declare him a crook: FTX founder Sam Bankman-Fried convicted of stealing billions from customers and investors Sweet childhood dreams come true: Baltimore couple plans to move up retirement after winning $100,000 from Powerball Traders work the floor at the New York Stock Exchange, Thursday, May 5, 2022 in New York. David L. Nemec, AP 🍔 Today's Menu 🍔 Fishy stuff: Looking for a baked salmon recipe? What to know about internal temp, seasoning, more. About The Daily Money Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. Target serves up deal: How you can get a Thanksgiving meal for $25 The under-$25 Thanksgiving meal at Target is available now to shop both in stores and online. READ MORE Advertisement Amazon founder Jeff Bezos buys 2nd home in luxe Indian Creek Village Jeff Bezos, founder of Amazon and Blue Origin, reportedly paid $79 million for a 7-bedroom, 14-bathroom waterfront home in luxe Indian Creek Village. READ MORE What you pay to buy or sell a home could change. Here's why. The commission you pay when you buy or sell a home could change after a Missouri jury ruled in favor of consumers. Here's why. READ MORE Two New York Powerball winners claim their $1 million prizes Both players guessed five white balls correctly to win the second prize in the Powerball jackpot. READ MORE Lyft and Uber will pay New York drivers over $300 million in settlement funds Lyft and Uber will pay former and current drivers $328 million in settlement funds over wage theft that occurred from 2014 to 2017. READ MORE See where you might save on Thanksgiving dinner A report from Wells Fargo says that turkey prices will be down for consumers this year. Side dish costs are up with room to fall as the holiday nears READ MORE These hospital CEOs earned millions during the COVID pandemic More than half of the CEOs leading Arizona's 10 largest hospital systems received compensation hikes during COVID-19, IRS filings show. READ MORE Oceania cruise guests struggle for refunds amid major schedule changes A number of Oceania guests have struggled to get refunds or compensation in the wake of drastic changes to planned sailings. READ MORE When's the best time to fly for Thanksgiving? With Thanksgiving fast approaching, many of us suddenly realize we either didn't plan ahead or have no choice but to travel along with the masses to see our friends and family. READ MORE Aldi releases 2023 Advent calendars featuring wine, beer, cheese The popular Aldi Advent calendars are back for the 2023 holiday season. Calendars featuring wine, beer and cheese are joined by five new additions. READ MORE Advertisement Sign up for the news you want Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. SEE ALL NEWSLETTERS ➔ SEE ALL NEWSLETTERS ➔ Newsletters   |    eNewspaper   |   Crosswords Follow Us Problem viewing email? View in browser Unsubscribe  •  Manage Newsletters  •  Terms of Service  •  Privacy Policy/Your California Privacy Rights  •   Privacy Notice  •  Do Not Sell My Info/Cookie Policy  •  Feedback