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US employers added just 12,000 jobs last month as hurricanes and strikes sharply reduce payrolls

WASHINGTON (AP) — America’s employers added just 12,000 jobs in October, a total that economists say was held down by the effects of strikes and hurricanes that left many workers temporarily off payrolls. The report provided a somewhat blurry view of the job market at the end of a presidential race that has pivoted heavily on voters’ feelings about the economy. Last month’s hiring gain was down significantly from the 223,000 jobs that were added in September. But economists have estimated that Hurricanes Helene and Milton, combined with strikes at Boeing and elsewhere, had the ...

Average rate on a 30-year mortgage in the US rises for fifth straight week

The average rate on a 30-year mortgage in the U.S. rose for the fifth straight week, returning to its highest level since early August. The rate rose to 6.72% from 6.54% last week, mortgage buyer Freddie Mac said Thursday. That's still down from a year ago, when the rate averaged 7.76%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners seeking to refinance their home loan to a lower rate, also increased this week. The average rate rose to 5.99% from 5.71% last week. A year ago, it averaged 7.03%, Freddie Mac said. When mortgage rates increase they can add ...

Taxpayers will get bigger standard deductions in 2025, but with smaller boosts than recent years

NEW YORK (AP) — U.S. taxpayers will again see higher standard deductions for 2025, allowing them to shield more of their money from taxation on future returns. The Internal Revenue Service detailed the increases in its annual inflation adjustments announced Tuesday. For single taxpayers and married individuals filing separately in tax year 2025, the standard deduction is rising to $15,000 — up $400 from 2024. For couples who file jointly, that standard deduction will be $30,000 for 2025, an $800 jump from the year prior. And heads of households will get a $22,500 standard ...

FSA offers loans for underserved groups and beginning farmers

MILL HALL — Matthew J. Stackhouse for USDA’s Farm Service Agency in Clinton/Centre/Clearfield County reminded producers that FSA has funding reserved specifically for use by Targeted Underserved Groups and Beginning Farmers. These loan programs are designed to help farmers purchase and operate family farms. “With these loan programs, FSA hopes to help reverse the declining number of farmers and ranchers across the United States and especially here in Clinton/Centre/Clearfield County,” said Stackhouse. “These loans help to encourage and assist them in owning and operating ...

Wholesale inflation remained cool last month in latest sign that price pressures are slowing

WASHINGTON — Wholesale prices in the United States were unchanged last month in another sign that inflation is returning to something close to normal after years of pressuring America’s households in the wake of COVID-19. The Labor Department reported Friday that its producer price index — which tracks inflation before it hits consumers — didn’t move from August to September after rising 0.2% the month before. Measured from a year earlier, the index rose 1.8% in September, the smallest such rise since February and down from a 1.9% year-over-year increase in ...