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Slowing labor market creates new hurdle for first-time homebuyers facing affordability squeeze

Slowing labor market creates new hurdle for first-time homebuyers facing affordability squeeze

The slowing U.S. labor market is presenting more challenges for a housing sector facing affordability challenges, with would-be homebuyers struggling to save amid persistent inflation and a less dynamic employment outlook.The Bureau of Labor Statistics on Friday released the jobs report for July, which showed the U.S. economy unexpectedly shed 23,000 jobs for the month, when economists had expected a gain of around 80,000. While the unemployment rate declined to 4.1%, it was due to a decline in the labor force participation rate as more individuals exited the workforce."The labor market is rea...

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