SUMMARY: In Pacific Palisades, several homes owned by Hollywood stars were lost in a wind-driven fire, which originated behind a house on Piedra Morada Drive. Investigators ruled out lightning as a cause and are examining potential arson or utility line failures. John Lentini, a fire analysis expert, noted that fire investigations focus on determining the origin and cause, but no official arson or utility line issues have been identified yet. Southern California Edison filed a report concerning the Eaton Fire, asserting their equipment was likely not involved. The ongoing fires continue to pose threats in dry conditions, with containment efforts challenged by the landscape.

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Frigid Temperatures Overnight

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SUMMARY: U.S. job growth surged in December with an addition of 256,000 jobs, pushing unemployment down to 4.1%. This upbeat labor market contrasts sharply with expectations of recession and indicates the economy is rebounding post-COVID. The Federal Reserve, facing persistent inflation and high interest rates, may hold off on further rate cuts, impacting borrowing costs for consumers and businesses. Despite fewer jobs created than in previous years, average wages rose 3.9% year-over-year. While the economy maintains a solid pace, challenges remain, such as rising prices and labor shortages in various sectors, highlighting mixed sentiments among Americans regarding economic recovery.

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The post Surging job market could prove costly for households, businesses as odds of quick rate cuts fade appeared first on www.abccolumbia.com