Friday Economic Calendar: Jobs Report, Housing Starts, Flow of Funds

The U.S. economic calendar on Friday will feature key reports from the Bureau of Labor Statistics, U.S. Census Bureau, University of Michigan, and the Federal Reserve, offering fresh insights into labor conditions, housing activity, consumer confidence, and financial flows. Scheduled for release at 8:30 a.m., 10:00 a.m., and 12:00 p.m. Eastern Time respectively, the December Employment Situation Report, October Housing Starts data, the preliminary January University of Michigan Consumer Sentiment Index, and the Federal Reserve’s Q3 Flow of Funds report are widely anticipated by economists, investors, and policymakers. These releases come amid growing focus on labor market resilience, housing affordability, and consumer spending trends heading into 2026.

The December Employment Report, set for 8:30 a.m. ET, is expected to show a modest gain of 55,000 nonfarm payroll jobs, according to consensus estimates compiled by market observers. The unemployment rate is projected to edge down to 4.5 percent from 4.6 percent in November, reflecting slight improvement in labor market conditions. The report will also include revisions to prior months and details on average hourly earnings, which remain closely watched for signs of wage inflation or moderation. Analysts suggest that a weaker-than-expected reading could raise concerns about economic softening, while a stronger number may reinforce expectations for delayed Federal Reserve interest rate cuts.

At 10:00 a.m. ET, the U.S. Census Bureau will release Housing Starts data for October and September revisions, providing an update on residential construction activity. Economists will be watching for signs of stabilization or decline in single-family and multi-family starts, which have been volatile in recent months amid higher mortgage rates and tight housing supply. According to Mortgage News Daily, 30-year fixed mortgage rates have remained elevated, averaging above 6.5 percent in top-tier scenarios, continuing to weigh on affordability and buyer demand. The data will help assess whether the housing sector is cooling further or showing signs of resilience.

Also at 10:00 a.m., the University of Michigan will release its preliminary Consumer Sentiment Index for January. The index has been a key indicator of consumer confidence, which drives about two-thirds of U.S. economic activity. Recent readings have been sensitive to inflation expectations, labor market conditions, and geopolitical risks. A decline in sentiment could signal caution among households, potentially affecting retail spending and economic growth. Economists will compare the January reading to December’s final figure of 69.7.

Finally, at 12:00 p.m. ET, the Federal Reserve will publish its quarterly Flow of Funds Accounts of the United States for Q3 2025. The report details the financial assets and liabilities of households, businesses, and the government, offering a comprehensive view of capital flows and debt levels across the economy. It is particularly relevant for tracking trends in household net worth, corporate borrowing, and federal debt accumulation. Investors often use this data to gauge systemic financial risks and the broader health of the U.S. economy.

Market participants, economists, and policymakers will analyze the Friday data releases for clues about the Federal Reserve’s next policy moves, particularly as inflation pressures and labor market trends evolve. All four reports are expected to influence Treasury yields, equities, and mortgage rates in the near term.

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