{"id":237336,"date":"2026-01-13T11:00:20","date_gmt":"2026-01-13T16:00:20","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=237336"},"modified":"2026-01-14T04:34:37","modified_gmt":"2026-01-14T09:34:37","slug":"us-labor-soft-but-no-acute-stress","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/","title":{"rendered":"Weekly Economic Perspectives: US labor soft, but no acute stress"},"content":{"rendered":"\n<p>Labor market data show continued softness in the US and Canada, while Australia\u2019s inflation eases. Next week, watch for steady US inflation and a potential rebound in EU industry.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.ssga.com\/us\/en\/institutional\/insights\/weekly-economic-perspectives-12-january-2026#1\">US labor soft, no acute stress<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.ssga.com\/us\/en\/institutional\/insights\/weekly-economic-perspectives-12-january-2026#2\">Canada\u2019s labor slack persists<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.ssga.com\/us\/en\/institutional\/insights\/weekly-economic-perspectives-12-january-2026#3\">Australia starts with cooler CPI<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.ssga.com\/us\/en\/institutional\/insights\/weekly-economic-perspectives-12-january-2026#4\">Spotlight: steady US inflation ahead<\/a><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-weekly-highlights\">Weekly highlights<\/h2>\n\n\n\n<p><strong>US: Nonfarm Payrolls Change&nbsp;<sup>(Dec.)<\/sup><\/strong>: 50k<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Big downward revisions also<\/li>\n<\/ul>\n\n\n\n<p><strong>US: Labor Productivity&nbsp;<sup>(Q3, QoQ, saar)<\/sup><\/strong>: 4.9%<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Really strong; will it continue?<\/li>\n<\/ul>\n\n\n\n<p><strong>US: Unemployment Rate&nbsp;<sup>(Dec.)<\/sup><\/strong>: 4.4%<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Better, but vulnerable<\/li>\n<\/ul>\n\n\n\n<p><strong>CA: Unemployment Rate&nbsp;<sup>(Dec.)<\/sup><\/strong>: 6.8%<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Weak, worse than expected<\/li>\n<\/ul>\n\n\n\n<p><strong>UK: Mortgage Approvals&nbsp;<sup>(Nov., thousand)<\/sup><\/strong>: 64.5<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Weaker than expected<\/li>\n<\/ul>\n\n\n\n<p><strong>UK: Services PMI&nbsp;<sup>(Dec., final)<\/sup><\/strong>:51.3<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Expanding at softer pace<\/li>\n<\/ul>\n\n\n\n<p><strong>AU: CPI Inflation&nbsp;<sup>(Nov., YoY)<\/sup><\/strong>:3.4%<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Good data, below expectations<\/li>\n<\/ul>\n\n\n\n<p><strong>AU: Trimmed Mean CPI&nbsp;<sup>(Nov., YoY)<\/sup><\/strong>: 3.2%<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Good data, below expectations<\/li>\n<\/ul>\n\n\n\n<p><strong>JP: Household Spending&nbsp;<sup>(Nov., MoM)<\/sup><\/strong>: 6.2%<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Very strong<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">US: Ongoing labor market softness<\/h2>\n\n\n\n<p>The dense data fog that had descended upon the US economy due to the prolonged government shutdown is finally starting to lift. New labor market updates this week confirm a backdrop of softness without acute weakness.<\/p>\n\n\n\n<p>Nonfarm payroll employment rose a weaker-than-expected 50k in December, but the bigger story perhaps was the big downward revision to the October estimate, which now indicates a net loss of 173k jobs that month, compared with the 105k decline reported previously. While this is water under the bridge to some extent, it does better match our own estimates of the ultimate impact of the DOGE deferred layoffs announced in the spring but effective in October. The latest data point to job losses averaging 22k per month in Q4 2025.<\/p>\n\n\n\n<p>Performance is poised to improve from here, if for no other reason that there is no DOGE 2.0 on the horizon, but the trend of soft labor demand is here to stay, as evidenced by another drop in job openings. Without a pickup in labor demand, there can be no pickup in hiring. Constraints to labor supply (mostly via immigration) will likely be the factor keeping the unemployment rate in check, although we believe risks are clearly to the upside. The unemployment rate ticked down a tenth to 4.4% in December (November was also revised down by a tenth to 4.5%) but hours worked remain weak and imply more vulnerability under the surface. Wage data was somewhat mixed, with overall average hourly earnings (AHE) inflation up two tenths to 3.8% YoY but AHE for production and non-supervisory employees down to 3.6% YoY, an almost four-year low.<\/p>\n\n\n\n<p>The takeaway here confirms Chair Powell\u2019s assertion over the last few months that the labor market is not a source of meaningful inflationary pressures. If there was any lingering doubt about that, the Q3 update on productivity and labor costs should dispel it. In truth, we are somewhat perplexed by the strength of consumer spending in the Q3 GDP data, and any future downward revisions may alter things at the margin. But, based on current data, labor productivity surged at a 4.9% annualized rate in Q4, keeping unit labor costs growth into negative territory for the second consecutive quarter (\u20111.9% QoQ SAAR). Still, these recent declines must be interpreted in the context of the Q1 surge. On a YoY basis, unit labor costs have normalized in a non-inflationary range but are by no means collapsing (Figure 1).<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"550\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-1-us-unit-labor-c-1100x550.png\" alt=\"\" class=\"wp-image-237342 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-1-us-unit-labor-c-1100x550.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-1-us-unit-labor-c-700x350.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-1-us-unit-labor-c-300x150.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-1-us-unit-labor-c-768x384.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-1-us-unit-labor-c-1536x768.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-1-us-unit-labor-c.png 1800w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/550;\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Canada: Labor market slack persists<\/h2>\n\n\n\n<p>Following several months of positive surprises, the labor market experienced a modest reversal in December, as job creation stalled and the unemployment rate edged higher due to increased labor force participation. Given the inherent volatility in these data, such an outcome is not unexpected and aligns with our view that the labor market continues to face challenges.<\/p>\n\n\n\n<p>In December, the unemployment rate rose from 6.5% to 6.8%, accompanied by an increase in labor force participation from 65.1% to 65.4%. Employment growth within public sectors such as educational services and health care was offset by reductions in other service industries, notably finance and insurance, as well as professional services including accounting, legal, and engineering. Meanwhile, trade-exposed sectors such as manufacturing and transport and warehousing have seen conditions stabilize toward the end of the year.<\/p>\n\n\n\n<p>This development is unlikely to prompt a policy response from the Bank of Canada. Weak labor market, ongoing trade uncertainty, and potential inflation risks suggest that the policy rate will likely remain unchanged in the near term.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1100\" height=\"636\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-2-canadian-trade-1100x636.png\" alt=\"\" class=\"wp-image-237343 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-2-canadian-trade-1100x636.png 1100w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-2-canadian-trade-700x404.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-2-canadian-trade-300x173.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-2-canadian-trade-768x444.png 768w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-2-canadian-trade-1536x887.png 1536w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2026\/01\/figure-2-canadian-trade.png 1800w\" data-sizes=\"(max-width: 1100px) 100vw, 1100px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/636;\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">Australia: Good (data) start<\/h2>\n\n\n\n<p>Headline CPI inflation came in at 3.4% YoY for November, two tenths below both our and consensus expectations\u2014a positive start to the new year. Our updated forecasts had already penciled in a lower-than-consensus inflation rate of 3.2% YoY for 2026, as we expect the factors that recently pushed CPI higher to gradually fade. The latest print aligns with the Reserve Bank of Australia\u2019s (RBA) projection of a 0.8% quarterly rise, reinforcing the case for a hold in February.<\/p>\n\n\n\n<p>The key swing factor was electricity prices, which surged 7.0% MoM as rebate timing continued to distort pricing. We anticipate ongoing volatility in this segment, meaning occasional upside surprises are likely\u2014but we caution against overreacting to these moves. Rental prices rose 0.4%, and new dwelling costs tracked expectations. Meanwhile, discretionary categories such as clothing (\u20113.0%) and accommodation (\u20112.7%) declined, likely due to seasonal effects. Goods inflation eased by five tenths to 3.3% YoY, while services remained firm at 3.7%. Importantly, the trimmed-mean measure landed at 3.2% YoY, edging closer to the RBA\u2019s target band.<\/p>\n\n\n\n<p>Looking ahead, we continue to expect the RBA to hold rates for an extended period. However, if policymakers remain patient through H1 and monitor labor market trends closely, they could gain critical space to ease later in the year.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><a><\/a>Spotlight on next week<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>US inflation seen steady. UK industrial production seen flat, EU up.<\/li>\n<\/ul>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted on January 12, 2026 &#8211; <a href=\"https:\/\/www.ssga.com\/us\/en\/institutional\/insights\/weekly-economic-perspectives-12-january-2026\" target=\"_blank\" rel=\"noreferrer noopener\">Weekly Economic Perspectives: US labor soft, but no acute stress<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-disclosures\">Disclosures<\/h2>\n\n\n\n<p><strong>Marketing Communication<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.ssga.com\/\">ssga.com<\/a><\/p>\n\n\n\n<p>State Street Global Advisors (SSGA) is now State Street Investment Management. Please go to&nbsp;<a href=\"https:\/\/www.ssga.com\/us\/en\/institutional\/insights\/statestreet.com\/investment-management\">statestreet.com\/investment-management<\/a>&nbsp;for more information.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.ssga.com\/footer\/state-street-global-advisors-worldwide-entities\">State Street Global Advisors Worldwide Entities<\/a><\/p>\n\n\n\n<p>The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor&#8217;s particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor.<\/p>\n\n\n\n<p><strong>The information contained in this communication is not a research recommendation or \u2018investment research\u2019 and is classified as a \u2018Marketing Communication\u2019 in accordance with the applicable regional regulation. This means that this marketing communication (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research (b) is not subject to any prohibition on dealing ahead of the dissemination of investment research.<\/strong><\/p>\n\n\n\n<p><strong>This communication is directed at professional clients (this includes eligible counterparties as defined by the \u201cappropriate EU regulator\u201d) who are deemed both knowledgeable and experienced in matters relating to investments. The products and services to which this communication relates are only available to such persons and persons of any other description (including retail clients) should not rely on this communication.<\/strong><\/p>\n\n\n\n<p>The views expressed in this material are the views of SSGA Economics Team through the period ended 09 January 2026 and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.<\/p>\n\n\n\n<p>The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA\u2019s express written consent.<\/p>\n\n\n\n<p>All information is from SSGA unless otherwise noted and has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.<\/p>\n\n\n\n<p><sup>\u00a9<\/sup> 2026 State Street Corporation. All Rights Reserved.<br>2537623.315.1.GBL.RTL<br>Exp. Date: 01\/31\/2027<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Labor market data show continued softness in the US and Canada, while Australia\u2019s inflation eases. Next week, watch for steady US inflation and a potential rebound in EU industry.<\/p>\n","protected":false},"author":173,"featured_media":228292,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,6,8,9,26,3],"tags":[],"contributors-categories":[13643],"class_list":{"0":"post-237336","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-macro","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-text-articles","12":"category-traders-insight","13":"contributors-categories-state-street-global-advisors"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Weekly Economic Perspectives: US labor soft, but no acute stress<\/title>\n<meta name=\"description\" content=\"Labor market data show continued softness in the US and Canada, while Australia\u2019s inflation eases. Next week, watch for steady US inflation and a...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/237336\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Economic Perspectives: US labor soft, but no acute stress | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Labor market data show continued softness in the US and Canada, while Australia\u2019s inflation eases. Next week, watch for steady US inflation and a potential rebound in EU industry.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-13T16:00:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-14T09:34:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/08\/economic-update-featured-img.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"563\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Mocuta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Simona Mocuta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-labor-soft-but-no-acute-stress\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-labor-soft-but-no-acute-stress\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Simona Mocuta\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/0713918bba1fbf21d2257d5d7f8aa074\"\n\t            },\n\t            \"headline\": \"Weekly Economic Perspectives: US labor soft, but no acute stress\",\n\t            \"datePublished\": \"2026-01-13T16:00:20+00:00\",\n\t            \"dateModified\": \"2026-01-14T09:34:37+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-labor-soft-but-no-acute-stress\\\/\"\n\t            },\n\t            \"wordCount\": 1345,\n\t            \"commentCount\": 0,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-labor-soft-but-no-acute-stress\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/08\\\/economic-update-featured-img.jpg\",\n\t            \"articleSection\": [\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-labor-soft-but-no-acute-stress\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-labor-soft-but-no-acute-stress\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-labor-soft-but-no-acute-stress\\\/\",\n\t            \"name\": \"Weekly Economic Perspectives: US labor soft, but no acute stress | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-labor-soft-but-no-acute-stress\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-labor-soft-but-no-acute-stress\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/08\\\/economic-update-featured-img.jpg\",\n\t            \"datePublished\": \"2026-01-13T16:00:20+00:00\",\n\t            \"dateModified\": \"2026-01-14T09:34:37+00:00\",\n\t            \"description\": \"Labor market data show continued softness in the US and Canada, while Australia\u2019s inflation eases. Next week, watch for steady US inflation and a potential rebound in EU industry.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-labor-soft-but-no-acute-stress\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/us-labor-soft-but-no-acute-stress\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/08\\\/economic-update-featured-img.jpg\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/08\\\/economic-update-featured-img.jpg\",\n\t            \"width\": 1000,\n\t            \"height\": 563\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/0713918bba1fbf21d2257d5d7f8aa074\",\n\t            \"name\": \"Simona Mocuta\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/simona-mocuta\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Weekly Economic Perspectives: US labor soft, but no acute stress","description":"Labor market data show continued softness in the US and Canada, while Australia\u2019s inflation eases. Next week, watch for steady US inflation and a...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/237336\/","og_locale":"en_US","og_type":"article","og_title":"Weekly Economic Perspectives: US labor soft, but no acute stress | IBKR Campus US","og_description":"Labor market data show continued softness in the US and Canada, while Australia\u2019s inflation eases. Next week, watch for steady US inflation and a potential rebound in EU industry.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/","og_site_name":"IBKR Campus US","article_published_time":"2026-01-13T16:00:20+00:00","article_modified_time":"2026-01-14T09:34:37+00:00","og_image":[{"width":1000,"height":563,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/08\/economic-update-featured-img.jpg","type":"image\/jpeg"}],"author":"Simona Mocuta","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Simona Mocuta","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/"},"author":{"name":"Simona Mocuta","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/0713918bba1fbf21d2257d5d7f8aa074"},"headline":"Weekly Economic Perspectives: US labor soft, but no acute stress","datePublished":"2026-01-13T16:00:20+00:00","dateModified":"2026-01-14T09:34:37+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/"},"wordCount":1345,"commentCount":0,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/08\/economic-update-featured-img.jpg","articleSection":["Macro","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/","name":"Weekly Economic Perspectives: US labor soft, but no acute stress | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/08\/economic-update-featured-img.jpg","datePublished":"2026-01-13T16:00:20+00:00","dateModified":"2026-01-14T09:34:37+00:00","description":"Labor market data show continued softness in the US and Canada, while Australia\u2019s inflation eases. Next week, watch for steady US inflation and a potential rebound in EU industry.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/securities\/macro\/us-labor-soft-but-no-acute-stress\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/08\/economic-update-featured-img.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/08\/economic-update-featured-img.jpg","width":1000,"height":563},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/0713918bba1fbf21d2257d5d7f8aa074","name":"Simona Mocuta","url":"https:\/\/www.interactivebrokers.com\/campus\/author\/simona-mocuta\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/08\/economic-update-featured-img.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/237336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/173"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=237336"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/237336\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/228292"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=237336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=237336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=237336"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=237336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}