Wall Street week ahead: The market eyes the monthly jobs report
Summary
This week, the U.S. will release two important reports about jobs. One report on Tuesday will show job openings and people quitting or being laid off in July. The bigger jobs report on Friday will give a full update on job growth and unemployment in August.Key Facts
- Tuesday’s report will give details on job openings and turnover for July.
- Turnover includes layoffs and people quitting jobs.
- Friday’s report will cover job growth and unemployment for a wide range of sectors in August.
- The July jobs report showed the U.S. job market stalled unexpectedly.
- Employment has been stronger than expected despite high inflation and weaker consumer confidence.
- The Federal Reserve is balancing controlling inflation and supporting jobs using interest rates.
- High inflation pushes the Fed to raise rates, but higher rates can hurt jobs.
- Rising oil prices from conflicts and trade wars are making goods and fuel more expensive.
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