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This Week: Job openings, consumer borrowing, nonfarm payrolls


The Labor Department delivers its October tally of job openings Tuesday and its November snapshot of hiring by nonfarm employers Friday

ByThe Associated Press

December 1, 2023, 2:07 PM

A look at some of the key business events and economic indicators upcoming this week

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The Labor Department delivers its latest monthly job openings and labor turnover survey Tuesday.

Economists project that job openings fell in October, although they remain high by historical standards. The Federal Reserve has aggressively raised interest rates in its bid to cool inflation, and it worries that high job openings pressure employers into raising wages, leading to price increases.

Job openings, in millions, by month:

May 9.6

June 9.2

July 8.9

Aug. 9.5

Sept. 9.6

Oct. (est.) 9.4

Source: FactSet

RACKING UP DEBT

The Federal Reserve issues its monthly snapshot of U.S. consumer borrowing Thursday.

The tally, which excludes mortgages and other loans secured by real estate, is expected to show consumer borrowing rose by $8.8 billion in October. That would be down from a gain of $9.1 billion the previous month. Consumer borrowing is being watched closely by economists and investors as interest rates have risen to their highest level in more than two decades.

Consumer credit, monthly change, seasonally adjusted, billions of dollars:

May -0.7

June 12.9

July 11.2

Aug. -15.8

Sept. 9.1

Oct. (est.) 8.8

Source: FactSet

EYE ON HIRING

The Labor Department releases its November jobs report Friday.

Economists predict that nonfarm U.S. employers added 175,000 jobs in November. That would be up from the previous month, when the economy added a modest 150,000 jobs. October’s job growth was solid enough to suggest that the economy remains sturdy and many companies still want to add more employees.

Nonfarm payrolls, monthly change, seasonally adjusted:

June 105,000

July 236,000

Aug. 165,000

Sept. 297,000

Oct. 150,000

Nov. (est.) 175,000

Source: FactSet



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