Mortgages

The New York governor called for a new tax break to promote affordable housing and increase support for fighting crime in New York City.

The unemployment rate remained unchanged at 3.7%, the U.S. Bureau of Labor Statistics reported.

The service-providing sector added 155,000 jobs, including 1,000 in professional and business services.

The average pace of job growth in 2023 remained above the growth rate leading up to the pandemic.

The unemployment rate declined two-tenths of a point to 3.7% in a sign of a strong economy despite high interest rates.

Annual pay rose 5.6% year-over-year, payroll giant ADP reported, seeing signs of a hiring slowdown for next year.

The pace of hourly earnings growth and hiring slowed down at small businesses, payroll processor Paychex reported.

The unemployment rate ticked up one-tenth of a point to 3.9% as hiring slowed.

Annual pay increased 5.7% year over year in another sign of continuing strength in the economy despite interest hikes and inflation.

Growth in hourly and weekly pay at small businesses decelerated in October as job growth moderated, payroll provider Paychex reported.