The U.S. economy continues to show a mix of steady growth and financial pressure as hiring slows and borrowing costs remain high.
Federal labor data shows employers added 29,000 jobs in September, while the unemployment rate rose to 4.2%. Wage growth also eased, pointing to a labor market that has lost some of its earlier momentum.
Housing remains another challenge for consumers. Mortgage data shows the average rate on a 30-year fixed loan climbed to 7.28%, increasing monthly costs for buyers and keeping affordability under pressure.
Inflation has moderated from earlier peaks, but prices are still rising. Bureau of Labor Statistics data showed consumer prices were 3.4% higher in August than a year earlier.
The broader economy is still expanding. Bureau of Economic Analysis figures showed gross domestic product grew at a 2.2% annualized rate in the second quarter.
Together, the latest data reflects an economy that remains resilient while households continue to face higher prices, costly borrowing and a softer job market.
