The Bureau of Labor Statistics published the latest average hourly earnings of employees in the accommodation sector and the preliminary average March wage stood at $23.33, the highest amount on record. The change from a year ago was an increase of just over 6%.

Job satisfaction hit a 36-year high in 2022, reflecting two effects of the tight pandemic labor market: The quality of jobs improved as wages and work flexibility increased, and workers moved into positions that were a better fit. Last year, 62.3% of U.S. workers said they were satisfied with their jobs, up from 60.2% in 2021 and 56.8% in 2020.

Many Americans who want to move are trapped in their homes—locked in by low interest rates they can’t afford to give up. The reluctance of homeowners to sell differentiates the current housing market from past downturns and could keep home prices from falling significantly on a national basis.

Pedestrian foot traffic in U.S. urban downtowns was down about 25% in April compared with the same month in 2019 with urban retail availability surpassing suburban availability for the first time since 2013.

Hotel asset managers surveyed with 64.6% of respondents ranking wage increases as one of the factors they are most concerned about, followed by 57.3% who are worried about labor availability and 52.4% concerned about demand.

New single-family home sales are bouncing back with supply tight in the existing-home market. Active listings in March stood at roughly half of where they were four years earlier, in part because higher mortgage rates made many homeowners reluctant to sell and give up their current low rates.

The Fed’s rate hike was its 10th since March of 2022. Seeking to rein in high inflation, the central bank has increased the key federal-funds rate from next to nothing to between 5% and 5.25% over that span.

Harley-Davidson last week said its credit loss rate rose to 3.2% in the first quarter, up from its typical rate of about 2%.

Active funds still make up a sliver of the roughly $7 trillion ETF market—less than 6% of total assets—but have attracted about 30% of the total flows to ETFs so far this year. That follows a banner year for active ETFs in 2022, when they gathered roughly 14% of total flows. Analysts say the outsize flows reflect greater interest in active management amid turbulent markets as well as the ease with which they allow investors to more easily trade specific strategies.

First Republic Bank was seized and sold to JPMorgan. The deal will see JPMorgan take on all of First Republic’s $103.9 billion in deposits and buy most of its $229.1 billion in assets.