Economy Week Ahead: Interest Rates and Jobs Market in Focus


The European Union’s statistics agency releases third-quarter gross-domestic product information and the October consumer-price index. The 19-nation eurozone faces an uncertain outlook from the war in Ukraine and is struggling with high inflation.


The Labor Department releases September figures on job openings, hires, quits and layoffs. Job openings fell 10% in August to a seasonally adjusted 10.1 million, adding to signs of a labor market losing momentum.

S&P Global and the Institute for Supply Management release October surveys of purchasing managers gauging U.S. manufacturing-sector activity. The data firm will also release manufacturing surveys for Canada, the U.K., India and Russia.

The Commerce Department releases September figures on construction spending, which fell in August for the third consecutive month as residential construction declined.


The Federal Reserve announces its latest interest-rate decision as it attempts to cool the economy and bring down high inflation. The central bank has raised its benchmark federal-funds rate by 0.75 percentage point at each of its past three meetings and is likely to do so again in its November meeting.


The Bank of England announces its latest interest-rate decision as the U.K. battles high inflation. The central bank raised rates for the seventh consecutive time at its previous meeting.

The Labor Department reports the number of workers’ filings for unemployment benefits for the week ended Oct. 29. Initial jobless claims have hovered near the 2019 weekly average of around 218,000 in recent weeks, a sign that employers are holding on to workers.

The Labor Department releases third-quarter data on U.S. nonfarm labor productivity and unit labor costs. Productivity declined for the second straight quarter in the April to June period as higher compensation costs weighed on the efficiency of the labor force.

The Commerce Department reports on the U.S. trade balance in September. An early estimate by the department showed that the trade deficit widened that month as exports fell and imports rose.

S&P Global and the Institute for Supply Management release October surveys of purchasing managers gauging economic activity in the U.S. services sector. S&P Global’s initial estimate showed that the services sector contracted in October at a faster pace than the previous month.


The Labor Department reports on the state of the U.S. labor market in October, including job gains, the unemployment rate and worker earnings. Payroll growth remained strong in September, and the jobless rate fell to 3.5% from 3.7% in August, matching a half-century low that was last reached in July.


What is your outlook on the economy right now? Join the conversation below.

Write to Bryan Mena at

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