FEBRUARY 9, 2026 – – JOBS REPORT DELAYED DUE TO PARTIAL SHUTDOWN
The release of January’s hiring and employment data and the inflation report were delayed until this week due to the partial government shutdown. Expectations are for an increase of 70,000 new positions, up from the 50,000 reported in December. Meanwhile, short term consumer inflation expectations have moderated to 3.5 percent, the lowest level in a year, as consumer confidence has risen to the highest level since August.
The Labor Department reported on Thursday that job vacancies fell to 6.5 million in December, the fewest since September 2020. Layoffs were up slightly, while people quitting their jobs remained unchanged month over month.
The job market is lackluster, despite steady economic growth, with the GDP having gone up at the fastest pace in two years during the summer. It is unclear where the data is headed. Does a slowing labor market presage an economic slowdown, or will advances in AI and automation result in economic growth without job creation?