A look at some of the key business events and economic indicators upcoming this week.
Job openings
The Labor Department releases its monthly survey of job openings on Tuesday.
The Job Openings and Labor Turnover survey showed that openings rose in November. Job openings have broadly declined since peaking at 12.2 million in March 2022, but they remain above where they stood before the coronavirus pandemic hit the American economy in early 2020.
JOLTS job openings, in millions, by month:
June 7.91
July 7.71
Aug. 7.86
Sept. 7.37
Oct. 7.84
Nov. 8.10
Source: FactSet.
Service sector update
The Institute for Supply Management releases its latest report on the U.S. service sector on Wednesday.
Economists forecast the monthly index edged lower in January, following a jump in December. The service sector employs most Americans and has withstood pressure from inflation and elevated interest rates. It is being closely watched for signs of potential economic stress.
ISM Services PMI (seasonally adjusted):
Aug.: 51.6
Sept.: 54.5
Oct.: 55.8
Nov.: 52.5
Dec.: 54.0
Jan. (est.): 53.8
Source: FactSet.
Hiring status
The Labor Department releases its latest monthly jobs report on Friday.
Economists predict hiring in the U.S. slipped in January after jumping in December. They expect that nonfarm employers added 165,000 jobs in January. The job market has been generally cooling, though it still remains strong. It has been a key factor, along with consumer spending, in driving economic growth.
Nonfarm payrolls, monthly change, seasonally adjusted:
Aug. 78,000
Sept. 255,000
Oct. 43,000
Nov. 212,000
Dec. 256,000
Jan. (est.) 165,000
Source: FactSet.
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