This Week: Construction spending, job openings, August hiring numbers
A look at some of the key business events and economic indicators upcoming this week.
UNDER CONSTRUCTION
The Commerce Department releases its latest snapshot of U.S. construction spending Tuesday.
Economists project that spending rebounded 0.4% in July after falling 0.3% in June amid a decline in spending on single-family homes and other residential projects.
Construction spending, monthly percent change, seasonally adjusted:
Feb. 0.5
March 0.1
April 1.3
May -0.4
June -0.3
July (est.) 0.4
Source: FactSet
HELP WANTED
A new Labor Department survey of job openings should provide insight into the health of the U.S. labor market.
Economists predict the latest Job Openings and Labor Turnover survey, which is due out Wednesday, will show there were 8.1 million job openings in July. That would be down slightly from June. Recent labor data point to a job market that continues to cool in the face of high interest rates.
JOLTS job openings, in millions, by month:
Feb. 8.81
March 8.36
April 7.92
May 8.23
June 8.18
July (est.) 8.10
Source: FactSet
EYE ON HIRING
Economists predict hiring in the U.S. accelerated in August.
They expect the Labor Department will report Friday that nonfarm employers added 155,000 jobs in August. That would follow a gain of 114,000 jobs in July, when hiring slowed and the unemployment rate rose for the fourth straight month.
Nonfarm payrolls, monthly change, seasonally adjusted:
March 310,000
April 108,000
May 216,000
June 179,000
July 114,000
Aug. (est.) 155,000
Source: FactSet