New York CNN —The first jobs report for 2024, set to be released at 8:30 am ET Friday, is expected to underscore the strength of the US economy despite 11 rate hikes from the Federal Reserve.
That can make the January jobs report among the trickiest to forecast, said Sarah House, a senior economist with Wells Fargo.
Friday’s jobs report also will include the final annual benchmark review of payroll data for the 12 months that ended in March 2023.
However, excluding January 2023, last month’s job cuts were the highest seen in January since 2009, according to Challenger.
US worker productivity grew 3.2% in the fourth quarter, according to a BLS report released Thursday.
Persons:
Jerome Powell, he’s, Sarah House, Wells, “ We’re, ”, there’s, Boussour, EY, ” Boussour, Daniel Zhao, Zhao, haven’t, ” Andrew Challenger, people’s paychecks, ” Diane Swonk, “, —, Swonk
Organizations:
New, New York CNN, Federal Reserve, Labor, Workers, Challenger, ”, BLS, KPMG, CNN
Locations:
New York, Wells Fargo, United States