NEW YORK (AP) — Wall Street will get several important updates this week about the health of the U.S. jobs market.
On Tuesday, the U.S. will release its July report focusing on job openings and turnover. It provides details on job openings within specific industries and areas of the economy. It also provides details on turnover, including layoffs and people quitting their jobs.
The government will release a broader and closely-watched monthly employment report on Friday. The monthly jobs report for August will provide details on job growth and unemployment for a wide range of industries, along with public sector employment.
The employment report for July showed that the U.S. job market stalled unexpectedly. Employment has been a mostly resilient area of the economy even as stubborn inflation continues to squeeze businesses and households, while consumer confidence weakens.
A weakening employment market could create a tough situation for Federal Reserve. The central bank has to balance fighting inflation with supporting employment and its main tool for that “dual mandate” remains interest rates. Raising its benchmark rate to fight stubbornly high inflation could further damage the jobs market. Cutting its benchmark interest rate to help support employment could worsen inflation.
The Fed has been holding rates steady as it monitors the impact on inflation from the U.S. war with Iran, which has raised crude oil prices, making everything from gasoline to shipped products more expensive. That is on top of an ongoing U.S. trade war with much of the world that has made many goods more expensive.
Related Posts:
- Bill Gates warns ‘insane’ AI wave could create ‘bioterror weapon’ and destroy human jobs News Bill Gates has called for ‘human reserves’ so jobs are protected (Picture: AFP) Bill Gates is hitting the panic button on the ‘insane’ AI wave that could dream up new bio-weapons, bombs, create pandemics and unleash them on the human race. In a 6,000-word essay titled ‘The Turbulent AI Era…
- After spending last year with champion Dodgers, Michael Conforto eyes doing ‘something special’ with Cubs News PHOENIX – Michael Conforto knows a championship team when he sees one. The Cubs’ designated hitter and veteran of 11 major league seasons spent last year with the Dodgers, who won their second consecutive World Series. Things went well for the Dodgers. They didn’t go so well for Conforto, who…
- Redevelopment of former Stateway Gardens public housing site to get Pete’s Market Uncategorized McLaurin Development Partners cleared the first hurdle to redevelop the former Stateway Gardens site into a housing and retail destination, anchored by a much-needed grocery store. The Chicago Plan Commission gave initial city approvals to the developer’s $70 million plan on Aug. 20. If approved by the Chicago City Council,…
- Pete's Market to be built as part of redevelopment of former site of Stateway Gardens News McLaurin Development Partners cleared the first hurdle to redevelop the former Stateway Gardens site into a housing and retail destination, anchored by a much-needed grocery store. The Chicago Plan Commission gave initial city approvals to the developer's $70 million plan Aug. 20. If approved by the City Council, construction on…
- Seven under-the-radar quarterbacks who opened eyes in Week 1 News Much of the preseason was focused on the area’s star quarterbacks. Montini’s Israel Abrams and Jake Nawrot of Hersey are ranked in the top five in the nation by 247Sports.com, and there are four more FBS committed quarterbacks in the area: Batavia’s Michael Vander Luitgaren (Wyoming), Maine South’s Jameson Purcell…
(Visited 1 times, 1 visits today)