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Economy Takes a Sharp Turn | Wilmington News
Published 1 day, 21 hours ago
Description
Job market takes a surprising turn as employers slash 23,000 positions, revising prior months’ figures downward by over 100,000 — while unemployment dips to 4.1% thanks to 260,000 people dropping out of the labor force. Mortgage rates hit a 12-month high at 6.69%, squeezing homebuyers, yet stocks rally on hopes the Fed may pause rate hikes. Unemployment claims edge up to 199,000 — a small but watchful sign.
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