Friday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.
October jobs report prediction: U.S. hiring slowed
When the new jobs report is released Friday, it could show that October job growth was at its slowest rate in two years.
The economy is expected to have added a solid 205,000 jobs in October, as unemployment remained a low 3.5%, according to Dow Jones.
The job gains would be the smallest since December 2020, when there was a contraction.
First-time homebuyers oldest on record and least diverse in 25 years
Both first-time and repeat U.S. homebuyers are now the oldest on record, and the proportion of purchases by Americans who are Black, Asian, or Pacific Islanders is at its lowest level since 1997.
A typical first-time buyer was 36 this year, three years older than in 2021, according to data released Thursday by the National Association of Realtors. For repeat purchasers, the age rose to 59.
Carnival Cruises raising food, drink prices
Citing inflation, higher fuel prices, and supply chain challenges, as well as its effort to cut down on food waste, Carnival Cruis Line is raising prices on food and drinks.
Steaks are going up in price and free ice cream hours will be shorter.
It also said the higher prices are due to changing laws in how farm animals and crops are raised and handled.
Starbucks customers spending on pricey drinks
Starbucks says revenue topped analysts’ estimates, fueled by U.S. customers spending more on iced coffee drinks and pumpkin spice lattes.
The Seattle-based coffee company also said U.S. traffic improved in the quarter and has nearly bounced back to 2019 levels.
Cold beverages accounted for more than 3/4 of beverage sales at U.S. company-owned cafes. Starbucks says customers are more likely to add pricy syrups, cold foam, and dairy substitutes to cold drinks, which drives up their total at the register.
Survey: More than half of shoppers consider in-store Black Friday shopping a tradition
The survey, commissioned by the human insight platform UserTesting and conducted by OnePoll, found shopping in actual stores is en vogue again.
Researchers found that 63% of shoppers consider in-store Black Friday shopping to be a tradition.
The survey shows that Gen Z like in-store Black Friday shopping more than millennials.