Hey friends - holy jingle bells, it’s already December. Feeling the holiday spirit?

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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.

🌎 The Big Picture

Let’s catch up on everything this week. We’ve got some reasons to be optimistic and some not so much.

Companies may not be hiring, but they’re mostly hanging onto their workers.

Layoffs last week fell to the lowest level in more than three years. The Labor Department reported that initial unemployment claims fell to 191,000 for the week ending November 29. This sharp decline, led by big drops in California and Texas, suggests that layoffs are not accelerating despite recent high-profile job cut announcements in some industries and across the federal government. According to a separate report from placement firm Challenger, Gray & Christmas, layoff announcements dropped by more than half from October but have now topped 1.17 million so far this year, a 54% jump from last year and the most since the depths of the pandemic. Federal government downsizing and layoffs in AI-sensitive big tech firms accounted for most of it.

Rent prices are finally cooling off, giving people more spending power.

According to Bank of America’s customer data, rent payments showed almost no increase in October after years of rising housing costs. A construction boom boosted the supply of rental units in many parts of the South and West. Now, fewer people are moving to different cities or states, likely because job opportunities haven’t picked up much, leading to higher apartment vacancy rates and giving renters more choices. The slowdown in rent hikes is most noticeable in fast-growing Sunbelt cities like Austin, Phoenix, Miami, and Orlando, where some rents have actually fallen year-over-year.

For many households, this means less of the paycheck goes to the landlord, and more is available for groceries, saving, or just a fun night out. Renters’ spending on non-essentials has nearly caught up to that of homeowners in recent months. That could be a boost for small businesses. For anyone renting or thinking about moving, now may be the best time in years to find a better deal.

New parents pay attention: American children are getting an extra kickstart to their retirement savings.

The government revealed new rules and funding for Trump Accounts, new savings accounts for US children under age 18, created through the Working Families Tax Cuts Act. The Treasury will provide a $1,000 deposit for every newborn from 2025 to 2028, and a landmark $6.25B donation from Michael and Susan Dell will offer a bonus $250 to the first 25 million children, ages 10 and younger, in ZIP codes with $150,000 median income.

The accounts function just like a traditional custodial Individual Retirement Account (IRA). The kids earn custody of the accounts at age 18, but withdrawals are restricted until after age 59.5. The funds aren’t taxed on the way in, or on any of the investment growth, but withdrawals in retirement get taxed as income. Families, friends, and even employers can contribute up to $5,000 each year per child, all invested in broad US stock index funds. Employers can contribute up to $2,500 per year per child without it counting as employee income.

This program aims to help more children start adulthood with meaningful savings and a stake in the US economy. Parents looking to open their children’s accounts can file with the IRS starting next year.

Filling up your tank is cheaper than it’s been in years.

The American Automobile Association (AAA) reported that the national average price at the pump dropped below $3.00 per gallon on Monday, a level not seen since May 2021. That price is likely higher than you’ll see today at the pump, as prices have been falling rapidly. On Monday, the price of crude oil (WTI), the primary cost input for US gasoline, plummeted to its cheapest level since early 2021. Fuel forecasts predict that drivers could soon be paying less than $2.50 per gallon, which would be even better than pre-pandemic levels.

Drivers will still notice big regional differences, with the West Coast seeing much higher prices than states in the South. For families, commuters, and businesses with transportation needs, this price drop offers some extra breathing room in budgets as winter approaches.

🏭 The Companies Everyone’s Talking About

❔ The Big Question of the Week