Friday’s jobs report will likely drive how Federal Reserve officials act on interest rates later this month. While economists expect the data to show a labor market on stable footing, the unemployment rate is the big number to watch.
If unemployment dips, it all but guarantees that Fed policymakers will keep rates steady. If the jobless rate stays unchanged or ticks higher, it keeps market hopes for another rate cut alive.
The Bureau of Labor Statistics will publish the December employment data, including the initial estimate of monthly jobs growth and unemployment, on Friday, Jan. 9 at 8:30 a.m. Eastern.