The highly anticipated September jobs report and JOLTS (job openings) made economic headlines this week. The stock slide may have slowed as bond prices seem to have peaked, at least temporarily, and a new student loan forgiveness program was announced as student loan payments resume this month. The future of the CFPB is in the hands of the Supreme Court. Finally, the crypto trial of the century started this week. Happy reading!

Economics

• Labor Market Data show signs of a continued strong market. A sign or just a last burst before the bottom falls out?
  • The JOLTS (job openings) for the end of August topped 9.6 million, up from 8.82 million the previous month. (Yahoo Finance)
  • The latest data reveal almost flat unemployment claims (and a shrinking trade deficit. (Reuters)
  • The September Jobs report came in much higher than expected at 336,000. Unemployment ticked up. (CNBC) (BLS)
• The latest news on the strike front is that 75,000 Kaiser Permanente health care workers in the DC/Virginia area are now striking. This is the largest health care worker strike in history. (CNN)
• Is the US is headed toward a recession? It depends on who you ask. Check out this article/visuals from Advisor/Visual Capitalist.

Consumer News

• The future of CFPB is in the hands of the Supreme Court, which is to rule on whether or not the way the CFPB is funded is constitutional. This stems from a challenge to the funding rule by payday lenders. (AP)
• A Wealth of Common Sense tackles the question: “How prepared are consumers for a recession?”

Investing

• On Tuesday of this week, the DJIA hit the lowest level since May as bond yields increased. (Forbes) Reuters examines the global bond market.
• The following day, stocks broke a three-day losing streak to post gains as bond yields seemed to have peaked. (CNBC)
• How many of you/your students wear Birkenstocks? They are planning to raise $1.58 billion with a US IPO next week based on a $9.2 billion valuation. (CNBC)

SBF Court Case

• Here are a two articles about the court case: Wired explains the details of the case against SBF, and NPR covers the lawyers’ opening statements in the case.
• You might also be interested in a review of the new Michael Lewis (The Big Short) book on SPF. (LA Times)

Paying for College

• President Biden announced a new student loan forgiveness plan. Here are two sources for the details: (CNN) (Reuters)

General Interest

• Learn all about GenZ and their relationship to money, as explained by a member of the cohort. (Advisor Perspectives by VettaFi)
• Just for fun, here is the new Forbes 400 list. See who is new to the list, and who is no longer on it!

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.