A closely watched report released by the Labor Department on Friday showed employment in the U.S. jumped by much more than expected in the month of December.
The Labor Department said non-farm payroll employment surged by 216,000 jobs in December after climbing by a downwardly revised 173,000 jobs in November.
Economists had expected employment to increase by 170,000 jobs compared to the addition of 199,000 jobs originally reported for the previous month.
Meanwhile, the report said the unemployment rate came in at 3.7 percent in December, unchanged from November. Economists had expected the unemployment rate to inch up to 3.8 percent.
At 10 am ET, the Institute for Supply Management is scheduled to release its report on service sector activity in the month of December.
The ISM’s services PMI is expected to edge down to 52.6 in December from 52.7 in November, although a reading above 50 would still indicate growth.
The Commerce Department is also due to release its report on factory orders in the month of November at 10 am ET. Factory orders are expected to jump by 2.1 percent in November after plunging by 3.6 percent in October.
At 1:30 pm ET, Richmond Federal Reserve President Thomas Barkin is scheduled to speak before the Maryland Bankers Association First Friday Economic Outlook Forum.