Spending on housing and transportation, as well as movie theaters, restaurants and sporting events rose in August, according to the latest government data, helping support a range of new service jobs. The U.S. labor market is expected to remain strong but show more signs of slower growth in October, continuing a year-long softening trend that has gradually brought job hiring to pre-pandemic levels.
As a result, Americans are continuing to open their wallets. Spending on housing and transportation, as well as movie theaters, restaurants and sporting events all rose in August, government data shows, helping support a range of new service jobs. Edward Watson, 35, a utilities technician for the city of Ontario, Calif., had been thinking about quitting his local government job for a higher paying one. His wage increases of around 2 or 3 percent a year weren’t keeping up with the cost of living, making it difficult to support his wife and three children. Meanwhile, work had become more stressful as his co-workers retired and quit during the pandemic.
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