Now that the federal government shutdown is officially over, the game of economic data catch-up begins. The September jobs report is among the delayed economic data scheduled to be released this week. Regularly scheduled updates on housing and durable goods are also due out.
Existing-home sales data for September are released at 10 a.m. In August, the number of homes sold was 5.5 million, an increase of nearly 2 percent from the month before. The increase surprised many analysts who were expecting rising mortgage rates to slow sales. But some consider the spike to be temporary as buyers rushed to lock in low rates. For September, analysts expect sales to drop by 3.3 percent, down to 5.3 million homes.
The Labor Department will release September unemployment data at 8:30 a.m. The report is likely to be closely watched by the Federal Reserve and global markets for signs of whether the economy is improving. Analysts expect the jobless rate to remain steady at 7.3 percent. The number of jobs added is forecast to be 180,000, up from 169,000 in August.
Another delayed report is due out at 8:30 a.m. — September’s import price index. Import prices are expected to have risen 0.2 percent in September after staying unchanged in August.
At 9 a.m., the Federal Housing Finance Agency releases its August home-price index. Home prices are forecast to have risen by 0.8 percent. They increased by 1 percent the previous month.
Weekly jobless claims are expected to fall to 335,000, from 358,000 the previous week. The number of claims in the past few weeks has fluctuated because of the government shutdown and a backlog of claims that were being processed in California.
New-home sales for September are expected to be nearly flat, after a rise of nearly 8 percent the previous month. The number of new homes sold is expected to reach 420,000, compared with 421,000 in August.
At 10 a.m., the delayed Job Openings and Labor Turnover Survey for August is out. The survey provides a nuanced look at the nation’s employment situation.
Durable goods orders for September are out at 8:30 a.m. Orders are expected to rise 2.5 percent, after an increase of 0.1 percent the previous month.