Job Growth Stays Strong While Inflation Slows: Signs of a Soft Economic Landing?

Labor market remains hot with 336,000 jobs added in September and unemployment rate at 3.8%. Wage growth is cooling though.

Services and manufacturing surveys show slowing but still positive growth. Construction spending rose in August.

Gas prices continue to fall, now at $3.76/gallon nationally. Mortgage rates reached highest since 2000.

Used car prices dropped substantially in September. Supply chain pressures increased slightly but remain below pre-pandemic.

Near-term GDP estimates remain positive. Economy appears on track for soft landing though risks remain due to tight monetary policy.