A look at some of the key business events and economic indicators upcoming this week:
Still hiring?
The U.S. government will release a closely watched report on job openings Tuesday.
Economists expect the Labor Department’s data for job openings to dip slightly in February, which would mark a second straight decline. The data is being watched by investors and the Federal Reserve as a gauge of the broader employment market’s health amid rising interest rates and high inflation. The labor market has remained resilient while other parts of the economy have weakened.
Job Openings by month (millions)
September 10.69
October 10.47
November 10.75
December 11.23
January 10.82
February (est.) 10.45
Source: FactSet.
Services assessment
The Institute for Supply Management releases its latest report on the services sector on Wednesday.
The sector employs most Americans and its health provides more insight into the broader economy. Economists expect the monthly index to show growth in March at a relatively stable pace. The index has show growth since the start of 2023 after contracting to close out 2022. Readings above 50 signal growth. The sector has remained resilient despite pressure from inflation.
ISM Services PMI (seasonally adjusted)
October 54.5
November 55.5
December 49.2
January 55.20
February 55.1
March (est.) 53.8
Source: FactSet
Eyes on employment
The government releases its monthly employment report for March on Friday.
The report is being closely monitored by Wall Street and the Federal Reserve to see how the employment market is reacting to inflation and interest rate hikes. The job market has remained strong, which is good for workers, but makes it more difficult for the Fed to tame inflation. The central bank is hoping to see the employment market soften as a signal that inflation is easing.
Nonfarm payrolls (seasonally adjusted)
October: 324,000
November: 290,000
December: 239,000
January: 504,000
February (est.): 311,000
March (est.): 200,000
Source: FactSet
Sourse: abcnews.go.com
