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Dimitri Otis | Stone | Getty Images The U.S. economy grew in the third quarter, reversing a negative trend from the first half of the year — but weakness looms under the surface and households shouldn't be lulled into a false sense of financial security, economists and financial advisors said. "I think investors should still continue to be cautious ... and plan for more disruption," said Winnie Sun, co-founder and managing director of Sun Group Wealth Partners, based in Irvine, California, and a member of CNBC's Advisor Council. Gross domestic product — a sum of all the goods and services produced in the U.S. — grew by 0.6% from July through September, the Bureau of Economic Analysis estimated Thursday. That figure amounts to 2.6% growth on an annualized basis. "For the U.S. economy, a developed economy, that's very respectable, slightly above average," said John Leer, chief economist at Morning Consult, a data research company. watch now VIDEO 4:28 04...

America's tax brackets are changing thanks to inflation. That will be welcome news for many people whose salaries haven't been keeping up this year with the highest price increases in four decades. The announcement of the tax-bracket shifts comes a week after the Social Security Administration revealed the largest inflation adjustment for fixed-income beneficiaries in a generation. Tax brackets move alongside the inflation rate , meaning the amount of tax you pay on your income gradually shifts in normal times . But the persistently high inflation consumers have been facing this year is anything but normal, so the tax brackets are moving up to offset that. The good news is, if your wages haven't risen enough, you'll likely fall into a lower tax bracket in 2023. Here's how that translates in dollar amounts The standard deduction for married couples filing jointly for the 2023 tax year rises to $27,700, up $1,800 from the prior year. For single taxpayers and marrie...

Job growth fell short of expectations in September as efforts by the Federal Reserve to slow inflation took their toll on hiring, the Labor Department reported Friday. Nonfarm payrolls increased by 263,000 for the month, compared to the Dow Jones estimate of 275,000. The unemployment rate was 3.5% versus the forecast of 3.7%. September’s payroll figure marked a deceleration from the 315,000 gain in August and tied for the lowest monthly increase since April 2021. In the closely watched wage numbers, average hourly earnings rose 0.3% on the month, in line with estimates, and 5% from a year ago, an increase that is still well above the pre-pandemic norm but 0.1 percentage point below the forecast. Stock market futures moved lower after the release while government bond yields rose. From a sector view, leisure and hospitality led the gains with an increase of 83,000, a gain that still left the industry 1.1 million jobs short of its February 2020 pre-pandemic levels. Elsewhere, health car...