The Daily Money: A soft landing for the economy?

Average hourly earnings rose 12 cents to $34.10, keeping the yearly at 4%, down from a high of 5.9% last year.

Advertisement Read in browser The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW Fri Dec 8 2023 Swapna Venugopal Ramaswamy | National Housing and Economy Correspondent @SwapnaVenugopal Happy Friday, The Daily Money readers! This is Swapna Venugopal Ramaswamy bringing you today's top headlines. The economy continues to show signs of strength even as the job market has been gradually cooling, increasing chances for a soft landing the Federal Reserve had hoped for as it raised interest rates 11 times to tamp down inflation. Employers added 199,000 jobs and the unemployment rate fell from 3.9% to 3.7%, the Labor Department said Friday. Economists had estimated that 186,000 jobs were added last month, according to a Bloomberg survey. Georgia Tech student Michael Oh-Yang, center, greets company representatives at a job fair on March 29, 2023, in Atlanta. Alex Slitz / AP The increase in employment includes striking auto workers and actors who returned to their jobs. Average hourly earnings rose 12 cents to $34.10, keeping the yearly at 4%, down from a high of 5.9% last year. That's good news for a Federal Reserve seeking to slow increases that are feeding into inflation. Fed officials would like to see wage growth ease to 3.5% to align with their 2% overall inflation goal. Wage growth topped 5% last year amid severe COVID-related labor shortages. 📰 More stories you shouldn't miss 📰 What's making food insecurity worse? How expensive everything else is, Americans say Cantaloupe recall: Salmonella outbreak leaves 8 dead, hundreds sickened in US and Canada Organized retail crime figure retracted by retail lobbyists When should I pay my credit card bill? 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. Virginia lottery winners claim over $850,000 in prizes last week Joann Cosgrove of Roanoke won $777,777 after purchasing a Scorching Hot 7s scratch-off from Plantation Market in Roanoke. READ MORE Advertisement Tainted cantaloupe: Salmonella outbreak linked to 8 deaths, more sick Eight deaths in the US and Canada have been linked to a cantaloupe recall tied to a salmonella outbreak. Hundreds of others have fallen ill. READ MORE Ford truck recall for flickering parking lights: Check the list Certain 2022 F-150 vehicles may have the parking lights flicker when the headlights are activated, according to an announcement by the NHTSA. READ MORE Teacher gifting etiquette: How much to spend? Is alcohol OK? It's that time of year - for rest and cheer? Nope. For scrambling to find the perfect gift for the teachers in our lives. Here's what to know. READ MORE How much money are stores losing to theft? Figure retracted from study The NRF has walked back claims in an April report that said organized retail crime makes up nearly half of all inventory losses in 2021. READ MORE More children sick after cinnamon applesauce pouch recall, FDA says The FDA has received 64 reports of illnesses potentially linked to recalled cinnamon pouches. Everyone impacted is under 6 years old. READ MORE Ready to buy Christmas decorations? Here's when to get deals From Thanksgiving to Christmas, finding cheap holiday decorations can be tricky. Here's the best time to buy, and how to know if the price is good. READ MORE These 'perks' used to be a given: How to get what you want from hotels In a business with near record-high rates, guests love the simple idea that hotels would give them what they want. READ MORE How to find cheap flights (and tips to not break your travel budget) Affordable airfare can be hard to find while trip-planning. Here are tips to find cheap flights, like which days to book a flight and peak travel times. READ MORE Holland America's standby program offers deals for flexible cruisers Holland America Line launched a new standby program offering fares of $49 per person, per day. 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 ➔ 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