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The Labor Department releases its July Job Vacancy and Labor Turnover Survey on Tuesday.
Analysts expect July job vacancies to remain at around 9.6 million for the third straight month. Overall, last month’s report pointed to a healthy economy as employers scramble to hire more workers. The number of workers who are quitting is slightly above pre-pandemic levels, suggesting many Americans are continuing to find more attractive jobs.
Vacancies, in millions, per month:
Pet food supplier Chewy announces its second-quarter financial results on Wednesday.
Wall Street is forecasting that Florida-based Chewy will post a loss for the sixth straight quarter, this time of 5 cents a share. In each of the previous five quarters, Chewy surprised investors and analysts by releasing adjusted earnings. For the second quarter of last year, Wall Street was expecting Chewy to report a loss of 12 cents a share, but the company instead posted a profit of 5 cents a share, just like in the first quarter of this year.
The Labor Department releases its August report on nonfarm hiring in the United States on Friday.
US employers added 187,000 jobs in July, fewer than expected. However, the unemployment rate fell to 3.5%, a sign that the job market remains resilient, especially given that the Federal Reserve has hiked interest rates 11 times since March 2022. Wall Street analysts forecast the US economy added 175,000 jobs in August.
Non-farm payrolls, monthly change, seasonally adjusted: