CHART OF THE WEEK

 

 

Last Friday’s BLS employment report for January was a big turnaround from 2016’s average. The 237,000 nonfarm jobs numbers easily beat expectations. The optimistic results suggest that job creators anticipate pro-growth policies from the current Administration and Congress. For more details on the employment report, please refer to JEC’s January 2017 Jobs Review release.

      

LAST WEEK

News & Commentary Weekly Highlights

• Wall Street Journal: Higher Jobless Rate Suggests Economy Has Room to Run (Friday)
• Economics21: CBO Shows How to Repeal Obamacare Regs (Friday)
• Cleveland.com: Rep. Pat Tiberi seeks tax reforms to promote inner-city investments (Thursday)
• Bloomberg: Dollar Sheds Gain as Fed Signals No Rush for Next Hike (Wednesday)
• Wall Street Journal: U.S. Consumer Inflation Firmed, Spending Accelerated in December (Monday)

Top Economic Indicator Highlights

• Employment Situation (January)
  • Nonfarm jobs

January: 227,000; December: 157,000; November: 164,000

• Headline unemployment rate

January: 4.8%; December: 4.7%; November: 4.6%

• Noteworthy: While some had become accustomed to only modest job gains, the recent report showed that the economy is capable of performing at a much higher level with job gains that far exceeded expectations. For example, the monthly Wall Street Journal survey revealed an average forecast of about 166,000 jobs for January.

 

JEC Releases

• January 2017 Jobs Review (Friday)

• Tiberi Statement on January Jobs Report (Friday)
• GDP Review (Fourth Quarter 2016) (Monday)

 

THIS WEEK

Upcoming Economic Data and Events

• Monday
  • No Releases
• Tuesday
  • Trade Balance (8:30am)
  • CoreLogic Home Price Index (10:00am)
  • Job Openings and Turnover Summary (JOLTS) (10:00am)
• Wednesday
  • No Releases
• Thursday
  • No Releases
• Friday
  • Exports/Imports (8:30am)
  • Michigan Consumer Sentiment (Preliminary) (10:00am)
  • Survey of Professional Forecasters (10:00am)