Jobs, jobs and jobs

The U.S. unemployment report will be published today, in a week full of economic data. The JOLTs report was also published this week and as you can see below, the amount of job openings keeps going down. Not only that, if we drill down on the data, we’ll see that 80% of those job openings are provided by small companies with less than 250 employees, which are the ones that suffer the most during a recession. Right now, there is a job openings for every unemployed person in the U.S., down from 2, three years ago. On top of that, both new and continuing claims for unemployment benefits have ticked up, not in a worrisome way, but enough to raise a few eyebrows. For today’s Unemployment number, the consensus expects 4.2%, with a 62.5% participation rate. This will be another important data point for next week’s FOMC meeting.

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