Economic indicators show cooling labor market and slowing auto sales

by Emeka ObioraOctober 3, 20266 links · ~22 min read · ~1 min for the TL;DR

The Float by Emeka Obiora: six links on Finance every day.

TL;DR

U.S. employers added 29,000 jobs in September, a figure significantly lower than the previous month, amid climbing long-term interest rates.
Unemployment rose slightly as American employers paused hiring with midterm elections one month away.
General Motors reported a 5.5% drop in third-quarter sales as consumer enthusiasm for electric vehicles wanes.
Federal regulators face significant opposition to a proposal that would make corporate earnings reports less frequent.
Ford reported a 6.6% year-over-year sales decline to 507,395 light-duty vehicles in the third quarter, though it retained its number three U.S. sales position.
Mortgage rates have climbed above 7% due to surging bond yields, creating further challenges for the U.S. housing market.

From the curator

Recent economic data points to a cooling U.S. labor market and a slowdown in the automotive sector. The NPR article reports that U.S. employers added only 29,000 jobs in September, while the BBC News article notes that unemployment rose slightly as hiring paused ahead of midterm elections.

Simultaneously, the automotive industry is facing headwinds. The CNBC article by Catriona Marangi and Michael Wayland states that General Motors saw a 5.5% drop in third-quarter sales as interest in electric vehicles wanes. Additionally, the CNBC article by Michael Wayland reports that Ford experienced a 6.6% year-over-year sales decline during the same period.

Emeka Obiora

Curated for this issue

NPR5 min readU.S. employers add only 29,000 jobs in September, much less than August
The Labor Department offered an update Friday on the strength of the U.S. job market. The news comes as long-term interest rates have been climbing.

BBC News2 min readUS jobs market sees sharp slowdown ahead of midterm elections
Unemployment rose slightly as American employers paused hiring with midterm elections just a month away.

CNBC3 min readGeneral Motors Q3 sales drop 5.5%, while Toyota buoyed by EVs, hybrids
GM's sales of all-electric vehicles are down across the board, as enthusiasm for electric vehicles wanes.

Catriona Marangi,Michael Wayland

The Conversation5 min readUS regulators want to make corporate earnings reports less frequent, but investors have doubts
No federal rule proposal has ever generated so much opposition.

Tzachi Zach · curated 1 time

CNBC2 min readFord fends off Hyundai to retain No. 3 U.S. sales position in third quarter
Ford on Friday reported a year-over-year sales decline of 6.6% during the third quarter to 507,395 light-duty vehicles.

Michael Wayland · curated 1 time

NPR4 min readMortgage rates break past 7% as bond yields surge, deepening U.S. housing gridlock
Bond yields rose this week pushing mortgage rates above 7 percent. That's another big challenge for the already limping US housing market.

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From the curator

NPR5 min readU.S. employers add only 29,000 jobs in September, much less than AugustThe Labor Department offered an update Friday on the strength of the U.S. job market. The news comes as long-term interest rates have been climbing.

BBC News2 min readUS jobs market sees sharp slowdown ahead of midterm electionsUnemployment rose slightly as American employers paused hiring with midterm elections just a month away.

CNBC3 min readGeneral Motors Q3 sales drop 5.5%, while Toyota buoyed by EVs, hybridsGM's sales of all-electric vehicles are down across the board, as enthusiasm for electric vehicles wanes.

The Conversation5 min readUS regulators want to make corporate earnings reports less frequent, but investors have doubtsNo federal rule proposal has ever generated so much opposition.

CNBC2 min readFord fends off Hyundai to retain No. 3 U.S. sales position in third quarterFord on Friday reported a year-over-year sales decline of 6.6% during the third quarter to 507,395 light-duty vehicles.

NPR4 min readMortgage rates break past 7% as bond yields surge, deepening U.S. housing gridlockBond yields rose this week pushing mortgage rates above 7 percent. That's another big challenge for the already limping US housing market.