The Digester

Unemployment ticked up to 4.4% and payrolls fell as GDP growth slowed to 1.4%, while core inflation remains near 3.0; wages rose modestly but household savings fell and borrowing costs stay elevated.

Unemployment rose to 4.4% and nonfarm payrolls declined by 92,000.
Real GDP growth slowed to 1.4%, signaling weaker economic momentum.
Core inflation is about 3.0%, staying above the Fed target despite easing used car prices.
Average hourly earnings rose to $37.32 while the personal savings rate fell to 3.6%.
30-year mortgage rates are around 6.0% as median home prices declined to $405,000.
The Federal Reserve held the funds rate near 3.6% and consumer sentiment improved to 56.4.

Economy Slows: Jobs Dip and Inflation Remains Above Target

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