Hey friends - coming to you a little later in the day. Thanks for hanging in there. Still catching up after taking last night off for the opening of my wife’s first solo gallery show here in New York. She’s an incredibly talented artist. The place was packed, and she sold a quarter of the paintings in an hour. The show is up until November 14th, if you want something cool to do in the city. Check it out.

🌎 The Big Picture

Here's what you need to know this week:

• Layoffs stayed near historic lows last week.

• Child care costs are still climbing for American families, just at a slower pace.

• Millions more homes should hit the market over the next decade.

▶️ Layoffs stayed near historic lows last week. 

The Labor Department reported 194,000 first-time unemployment filings last week, that's 6,000 fewer than the week before and puts layoffs right near the lowest levels since 1969.

Employers are holding onto their people, even if they're not exactly on a hiring spree. About 1.728 million folks are still collecting ongoing benefits, the most in six weeks, so it's taking a little longer to land something new. But the numbers are still really low. Your job's likely safe, just prep some patience if you're hunting for a new one.

▶️ Child care costs are still climbing for American families, just at a slower pace. 

Bank of America Institute tracks this using real spending data from millions of its own customers, so this is what parents actually paid, not just estimates. In September, child care expenses ran about 1% more than a year ago - not an improvement, but welcome relief after years of steep increases. That said, the Bureau of Labor Statistics confirms child care and school fees still climbed faster over the past year than rent or medical costs.

Those costs have pushed some families to cut back. Bank of America Institute found about 2% fewer lower-income households paying for care compared to last year, a sign more parents are leaning on family or stepping away from work entirely. About 7.7% of families are now facing bills over $2,000 a month, a portion that's more than doubled since 2023. Child care providers are employing 0.7% fewer workers than a year ago, which keeps squeezing parents' already tight options.

On the bright side, it doesn’t seem to be holding women back as much as it used to. Mothers are participating in the workforce at higher rates than in 2019. But if you've got young kids, child care is still a serious line item that needs its own spot in the budget.

▶️ Millions more homes should hit the market over the next decade.

Realtor.com projects homeowners from the Baby Boomer and Silent Generation will free up 13.9 million homes by 2036, a 33.7% jump from the prior decade's pace. That works out to roughly 1.27 million homes opening up in 2027, climbing to about 1.52 million a year by 2036. More choices are on the way for future buyers.

The new flood of supply might not have a big impact for first-time home buyers, though. Older owners tend to hold onto starter homes longest, so Realtor.com expects only about 380,000 smaller, more affordable properties to open up over the entire decade. That's a big reason first-time buyers hit a record-low 21% share of purchases this year, with sellers holding onto homes for a record 11 years before listing. Move-up buyers may catch a break, but first-timers, it's worth knowing the wait for an affordable home isn't over yet.

🏭 The Companies Everyone’s Talking About

❔ The Big Question of the Week

Scoops app users: We have taken the beta app offline for a short period for some major updates. Can’t wait to show you all what we’ve been working on! Reach out if you have any questions.

We’re going to switch up the content in this spotlight for a bit to make sure you all have the info you need to master your week.