ECONOMY

HOW RISING PRICES FOR RESTAURANTS, CAR REPAIR AND OTHER SERVICES KEPT INFLATION UP LAST MONTH

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Photo Credit: Matt Rourke

Held down by sinking gas prices, U.S. inflation was mostly unchanged last month. But underlying price pressures — from apartment rents, restaurant meals, auto insurance and many other services — remained stubbornly high.

Last month’s inflation data arrived just a day before the Federal Reserve will end a two-day policy meeting and announce its latest decisions on interest rates. The Fed is expected on Wednesday to keep its key rate unchanged for the third straight time.

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MILLENNIALS PRICED OUT OF HOMEOWNERSHIP ARE FEELING THE PRESSURE

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Photo Credit: Oscar Wong/Getty Images

Over the last couple of months, Dylan Rose has taken some exciting news steps.

Rose recently got married. He moved to Beacon, New York, outside of New York City, for his wife's job. They make a combined income of $200,000.

But when it came to his dream of buying their first house, the 29-year-old told ABC News' "Start Here" came to a sudden realization: they were priced out.

In fact, mortgage payments on a home would be nearly $4,000 a month, roughly $1,000 more than what Rose and his wife would pay for rent.

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US UNEMPLOYMENT CLAIMS DROP BY 24,000, ANOTHER SIGN OF LABOR MARKET RESILIENCY

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Photo Credit: Nam Y. Huh

The number of Americans applying for unemployment benefits fell sharply last week, a sign that U.S. job market remains resilient despite higher interest rates.

The Labor Department reported Wednesday that jobless claims dropped by 24,000 to 209,000. The previous week's total — 233,000 — had been the highest since August. The four-week moving average of claims, which smooths out week-to-week volatility, fell by 750 to 220,000.

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US APPLICATIONS FOR JOBLESS BENEFITS INCH DOWN, REMAIN AT HISTORICALLY HEALTHY LEVELS

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Photo Credit: Nam Y. Huh

Slightly fewer Americans applied for jobless claims last week, further indicating that the labor market remains strong in an era of high interest rates.

Applications for unemployment benefits fell by 3,000 to 217,000 for the week ending Nov. 4, the Labor Department reported Thursday.

Jobless claim applications are seen as representative of the number of layoffs in a given week.

The four-week moving average of claims, a less volatile measure, inched up by 1,500 to 212,250.

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U.S. JOB OPENINGS RISE SLIGHTLY TO 9.6 MILLION, SIGN OF CONTINUED STRENGTH IN THE JOB MARKET

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Photo Credit: Mike Stewart, File

Employers posted 9.6 million job openings in September, up from 9.5 million in August and a sign that the U.S. job market remains strong even as the U.S. Federal Reserve attempts to cool the economy.

Layoffs fell to 1.5 million from 1.7 million in August, more evidence that workers enjoy an unusual degree of job security. The number of Americans quitting their jobs — a sign of confidence they can find better pay elsewhere — was virtually unchanged.

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