as the latest unemployment rate and the nonfarms payroll report are due. Economists expect that 187,000 jobs were added in January, down from 223,000 in December, according to a Dow Jones survey.
They are also anticipating unemployment to increase slightly from 3.5% in December to 3.6% in January. As a tight labor market is often closely associated with high inflation, the data could also provide hints about whether pressures from rising prices are easing and the impact of the Federal Reserve's interest rate hikes.
The Fed has been trying to cool the economy through monetary policy measures, including interest rate hikes. At the conclusion of its latest meeting on Wednesday, the central bank increased rates by 25 basis points, but also said it was starting to see a slight slowdown of inflation. ISM's non-manufacturing purchasing managers' index report for January is also due Friday. It reflects whether economic activity in services sectors has expanded or contracted.