Jobs Gains Surprise to the Upside

Save Big on Sales Taxes | How Congress Might Ease the Pilot ShortageHow Congress Might Ease the Pilot Shortage | Created for {EMAIL} | [Web Version]( August 5, 2022 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [Twitter]( [Instagram ]( [Youtube]( [SIGN UP]( ⋅ [WEBSITE]( [] What's in the Works [] Here’s a case where good news is bad news: Employers created more jobs than expected in July, sending the stock market lower in early trading. What gives? Investors have been looking for the rate of job creation to downshift this summer as a signal that the overall economy is slowing. That would help to ease inflation pressure, letting the Federal Reserve dial back its policy of rapidly raising interest rates. But the labor market didn’t cooperate, as the Bureau of Labor Statistics reported 528,000 new jobs in July, roughly double what markets were expecting. The already low unemployment rate ticked even lower, to 3.5%. Job gains like these make it more likely that wages will keep rising rapidly, keeping inflation high and forcing the Fed to continue with hefty [interest rate]( hikes. None of that is what stock investors want to hear. [LinkedIn]( [Twitter]( [Facebook]( [Email]( [The Billion Dollar Startup Disrupting the $27T Retirement Industry]( With 110 million Americans over age 50, it's no wonder this Princeton grad's startup raised over $161M to help people plan for an easier retirement. [READ MORE]( ADVERTISEMENT [] Continued [] Sales tax holidays have been around for a long time, but they're especially helpful for consumers when [inflation is high]( – like it is right now. By not having to pay sales tax on certain purchases, you automatically get a discount. This weekend is the busiest of the year when it comes to sales tax holidays. [Twelve states are holding tax-free weekends]( between now and Sunday. Most of the items you can buy tax-free this weekend are for students going back to school, but there are plenty of opportunities for everyone to save. For instance, purchases of clothing are tax-free in all states holding a sales tax holiday this weekend, but you don't have to be a student to take advantage of this tax break. Personal computers, printers, software, footwear, art supplies and even portable generators could be tax-free this weekend in your state (or a state near you). However, the timing and scope of the available sales tax exemption differs from state to state. There are also limits on the prices of certain tax-free items in many cases. So, before you hit the stores this weekend, make sure you're aware of the sales tax holiday rules in the state where you're shopping. [LinkedIn]( [Twitter]( [Facebook]( [Email]( [Take Control of Your Finances with Personal Capital's Free, Powerful Financial Tools, And You Could Win a Brand New Tesla Model 3]( 1. Sign up to get access to our free dashboard and tools 2. Link all of your eligible accounts for up to 20 chances to win 3. See your chances of retirement success with our Retirement Planner [READ MORE]( ADVERTISEMENT [] Also on Kiplinger [] - [How Congress Might Ease the Pilot Shortage]( - [Where Is Travel Insurance Still Required?]( - [5 Fantastic Actively Managed Fidelity Funds to Buy]( - [10 Dividend Growth Stocks Delivering Impressive Increases]( - [Sign Up for Kiplinger's Free Tax Tips E-Newsletter for Money-Saving Tax Planning and Compliance Advice]( ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. Since 1920, Kiplinger has earned a reputation as a trusted provider of unbiased financial advice, objective business and economic forecasts, and practical help to millions of business professionals, investors, and individuals seeking to make more profitable decisions with their money. Our [flagship publications]( include Kiplinger’s Personal Finance magazine, The Kiplinger Letter, The Kiplinger Tax Letter, Kiplinger’s Retirement Report, and Kiplinger’s Investing for Income. All are regarded as the leading publications in their respective fields. Every day, millions of readers rely on our [free e-newsletters]( and [podcasts]( for help on everything from getting the best rate on a mortgage or car loan, to managing their businesses in an uncertain world, avoiding an IRS audit, building wealth for a secure retirement, or investing wisely in any kind of market. Now it’s your turn to reap all the rewards Kiplinger has to offer. Visit [Kiplinger.com](, your gateway to all of the above and much more. Check in any time for our latest advice on how to make more money, and keep more of the money you make. Stay right on the money, with Kiplinger. [Sign Up]( | [Print Publications]( | [Unsubscribe]( [Privacy Policy]( | [Cookies Policy]( | [Terms and Conditions]( CONTACT US: [FEEDBACK](concat('mailto:',$brief_feedback_email)) | [ADVERTISE]( Future US LLC © 1100 13th St. NW, Suite 1000, Washington, DC 20005