January jobs report: One thing that may be propping up the data
01/30/2024 02:56
The January US jobs report is set to be released on Friday, February 2. One thing investors will be watching for is the impact from recent layoffs. Lakshman Achuthan, Co-Founder of Economic Cycle Research Institute, joins Yahoo Finance Live to discuss the impact of layoffs on the upcoming jobs report and what the labor landscape could look like in the coming months. Achuthan notes that many "mom-and-pop" businesses struggled to hire in 2021 and 2022 and thus, despite inflation, are reluctant to lay off staff. Achuthan suggests that layoffs would be what the Federal Reserve will be paying attention to, noting "I think for the Fed, they actually want jobs growth down," as a buffer for rising inflation. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Eyek Ntekim
The January US jobs report is set to be released on Friday, February 2. One thing investors will be watching for is the impact from recent layoffs. Lakshman Achuthan, Co-Founder of Economic Cycle Research Institute, joins Yahoo Finance Live to discuss the impact of layoffs on the upcoming jobs report and what the labor landscape could look like in the coming months.
Achuthan notes that many "mom-and-pop" businesses struggled to hire in 2021 and 2022 and thus, despite inflation, are reluctant to lay off staff. Achuthan suggests that layoffs would be what the Federal Reserve will be paying attention to, noting "I think for the Fed, they actually want jobs growth down," as a buffer for rising inflation.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Eyek Ntekim