24 states saw increases in their unemployment rate in October. Real wages have fallen since October 2021, with the BLS reporting a 3.7 percent decrease over the last year. The St. Louis Fed has reported a decrease in the number of new claims to receive unemployment benefits. The lower than expected inflation numbers for October have reversed upward pressure on mortgage rates sending them plummeting. Divided Congress will prevent any major tax legislation but potential for some agreement. Goldman Sachs is predicting that the US will narrowly avoid a recession in 2023. $183 bn wiped off crypto markets after FTX collapse and class action lawsuit filed against FTX founder and numerous celebrity promoters, including Tom Brady. St Louis court issues another block on Student Loan Forgiveness. . . .
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