US jobs data to watch: Non-Farm Payrolls and JOLTs openings
A raft of US jobs data will be released this week offering a string of indicators. First, JOLTs job openings will be released tomorrow – set to come in marginally lower that last month at 8.75 million for the month of December
This would be the fourth consecutive month of decline for this indicator, taking it to a level not seen since March 2021. Then on Wednesday, the ADP survey. Private US businesses are anticipated to have hired 135,000 workers in January, fewer than the previous month. Initial jobless claims will be published as ever on Thursday, and then there's the big one to end the week: Non-farm Payrolls. Early expectations are for 173,000 job creations in January. IGTV’s Angela Barnes has this summary.
(AI Video Summary)
The US job market
This week, we have some important numbers coming out about the job market in the US. These numbers give us an idea of how the economy is doing. The first number is about job openings, and it's expected to go down a little compared to last month. This would be the fourth month in a row that this number has gone down. On Wednesday, we'll find out how many people were hired by private businesses in January. It's expected to be lower than the previous month. Then on Thursday, we'll see how many people filed for unemployment benefits. This number is updated regularly and tells us how many people are out of work. Finally, on Friday, the non-farm payrolls data will be released. This tells us how many new jobs were created in different industries. In January, experts think about 173,000 new jobs were added, which is lower than the month before. The unemployment rate is also expected to go up a little, and wages are predicted to go up by 0.3% month over month.
The Federal Reserve
Overall, people don't think there will be big changes in the job market. But there is a trend of it getting weaker, moving closer to how it was before the pandemic. This might make the Federal Reserve, which controls the country's money, think about lowering interest rates in the first half of the year. Some experts think this could happen in March. These numbers and data tell people who make decisions about the economy and the market what's going on. It helps them decide what to do next.
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