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While prices will rise for everyone, lower-income families are expected to lose a larger portion of their budgets because they tend to spend more of their earnings on goods.

The final December sentiment index increased to 74 from 71.8 last month, according to the University of Michigan. The median estimate in a Bloomberg survey called for a reading of 74.2.

US companies added the fewest number of workers since the start of the year and wage growth slowed, consistent with signs of a softer labor demand. But the transportation sector showed resilience.

U.S. companies boosted hiring last month by the most since July in a broad advance and some wage gains accelerated, pointing to solid demand for workers.

Applications for U.S. state unemployment benefits fell by the most in almost two months, offering some hope that the gradual recovery in the job market will continue despite a spike in COVID-19 infections and renewed business restrictions.

U.S. consumer confidence fell in November to a three-month low as the coronavirus resurgence prompted a slide in Americans’ expectations for the economy and job market.

Applications for U.S. state unemployment benefits rose for the first time in five weeks and remained well above pre-COVID levels, suggesting the labor market recovery is slowing amid a surging pandemic and fresh business restrictions.

U.S. consumer sentiment unexpectedly declined in early November as an increase in COVID-19 infections and the election prompted Americans to reassess their outlooks for the economy and finances.

U.S. manufacturing expanded in October at the fastest pace in more than two years, fueled by the strongest orders growth since early 2004 and a pickup in employment.

A weekly measure of U.S. consumer confidence fell to a seven-week low on significant declines in attitudes toward the economy and buying climate — just about two weeks before the presidential election.