Hi, I'm Cent! Every week I round up what is new and what is coming from official U.S. sources, in plain words. This week: the IRS set the 2027 tax brackets, employers added 165,000 jobs in October, and Wednesday is Veterans Day.
The IRS set the 2027 tax brackets and standard deduction
Announced Thursday, Nov. 5, 2026
For tax year 2027 the standard deduction rises to $16,600 for single filers, $33,200 for married couples filing jointly and $24,925 for heads of household. The tax rates stay the same, but each bracket starts at a higher income: for single filers the 22% rate begins above $52,025 of taxable income and the 37% rate above $661,375. The child tax credit becomes $2,300 per child, up to $1,800 refundable, and the largest earned income tax credit is $8,496. These numbers are for income earned in 2027; returns filed in early 2027 still use the 2026 figures.
Source: IRS news release IR-2026-133 and Rev. Proc. 2026-35 (Nov. 5, 2026).
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Also new for 2027: work benefits, gifts and family credits
Announced Thursday, Nov. 5, 2026
The same IRS release sets other 2027 limits. You can put up to $3,500 into a health flexible spending account at work, and carry up to $700 into the next year if your plan allows it. Commuter benefits for transit passes and work parking go up to $350 a month each. You can give up to $20,000 to any one person in 2027 without it counting toward taxable gifts. The adoption credit goes up to $18,250. For capital gains and qualified dividends, the 0% rate covers taxable income up to $51,050 for single filers and $102,100 for married couples filing jointly. If you choose benefits during open enrollment at work, these are the 2027 numbers to use.
Source: IRS, Rev. Proc. 2026-35 (Nov. 5, 2026).
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Employers added 165,000 jobs in October
Released Friday, Nov. 6, 2026
The unemployment rate was 4.1%, little changed, and has stayed between 4.1% and 4.3% since March. Payrolls rose by 165,000. August and September were revised up by a combined 84,000. Average hourly earnings for private-sector workers rose 14 cents to $38.00, 3.1% more than a year earlier; for production and nonsupervisory workers they rose 12 cents to $32.75. If your raise this year was smaller than 3.1%, your pay grew more slowly than the average. The November report comes out on Friday, Dec. 4.
Source: BLS, The Employment Situation, October 2026 (Nov. 6, 2026).
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7.5 million job openings in September
Released Tuesday, Nov. 3, 2026
Job openings were little changed at 7.5 million and hires at 5.4 million. Quits, people leaving a job on their own, rose to 3.4 million, 375,000 more than a year earlier. Layoffs and discharges were 1.6 million, or 1.0% of jobs. More people quitting usually means workers feel they can find another job. The October figures come out on Tuesday, Dec. 1.
Source: BLS, Job Openings and Labor Turnover, September 2026 (Nov. 3, 2026).
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Still waiting: 2027 401(k) and IRA limits and the Medicare Part B premium
Not published as of Nov. 8, 2026
The IRS tax inflation release did not include the 2027 contribution limits for 401(k) plans and IRAs, which the IRS announces separately, and CMS has not announced the 2027 Medicare Part B premium (2026: $202.90 a month). We do not publish estimates; our calculators will switch to the official numbers when they are released.
Source: IRS newsroom and CMS newsroom (checked Nov. 8, 2026).
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Coming this week: October inflation and Veterans Day
Tuesday, Nov. 10 to Friday, Nov. 13, 2026
The Consumer Price Index for October comes out on Tuesday, Nov. 10 at 8:30 a.m. ET, and producer prices on Friday, Nov. 13. Wednesday, Nov. 11 is Veterans Day, a federal holiday: federal offices are closed. Our holidays calendar shows which banks, post offices and markets are open.
Source: BLS, November 2026 release calendar and OPM, federal holidays (checked Nov. 8, 2026).
Try it on CentDaily: Inflation calculator · U.S. holidays calendar