This Week: Job openings, Levi Strauss earns, hiring snapshot
Oct 3, 2022, 8:10 AM | Updated: 9:09 am
A look at some of the key business events and economic indicators upcoming this week:
JOB MARKET BAROMETER
The Labor Department delivers its monthly tally of U.S. job openings Tuesday.
Economists project that the Job Openings and Labor Turnover Survey, or JOLTS, will show employers advertised about 11.2 million jobs in August. Job openings, which never exceeded 8 million in a month before last year, have topped 11 million every month since December, a sign that employers are still urgently seeking workers despite a weakening economy and high inflation.
JOLTS job openings, in millions, by month:
March 11.86
April 11.68
May 11.30
June 11.04
July 11.24
Aug. (est.) 11.18
Source: FactSet
JUST A BLIP?
Levi Strauss & Co. reports its fiscal third-quarter results Thursday.
Wall Street expects the denim maker’s earnings declined in the June-August quarter versus the same period last year, even as its revenue edged higher. Levi’s reported increased profits and revenue in the first and second quarter. The company has benefited from growth in its direct-to-consumer, wholesale and e-commerce businesses, though it has grappled with supply chain constraints.
HIRING SNAPSHOT
The Labor Department releases its monthly snapshot of hiring by nonfarm U.S. employers Friday.
Economists predict employers added 250,000 jobs in September. That would be the lowest monthly increase since December 2020, when the economy lost 115,000 jobs. In August, employers added 315,000 jobs, a solid gain that pointed to an economy that remains resilient despite rising interest rates, high inflation and sluggish consumer spending.
Nonfarm payrolls, monthly change, seasonally adjusted:
April 368,000
May 386,000
June 293,000
July 526,000
Aug. 315,000
Sept. (est.) 250,000
Source: FactSet
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