U.S. employers posted fewer jobs in June, a sign that the red-hot demand for workers that has been a key feature of the post-pandemic economy is cooling a bit.
Bob Wood, 66, has been thinking of selling his home in Mobile, Alabama. The finance professor and his wife, Terri, purchased the 5,000-square-foot house with a pool nearly a decade ago. “It’s probably time to downsize,” he said. They would also like to be closer to their grandchildren in Tennessee.
For more than a year, the U.S. economy has defied predictions of a forthcoming recession. It has withstood 10 interest rate hikes in 16 months from an inflation-fighting Federal Reserve. In June, America’s employers added a healthy 209,000 jobs.
Inland cities including Bakersfield, Fresno, Visalia and Riverside — once cheaper options than pricey places such as the Bay Area — are no longer refuges from California’s housing affordability crisis.
Elon Musk may want to send “tweet” back to the birds, but the ubiquitous term for posting on the site he now calls X is here to stay — at least for now.