The Economic Week Ahead, Nov. 28-Dec. 2

We hope you had a chance to relax with your family and friends and to recharge your batteries during the Thanksgiving holiday. We did. The big question that will be answered this week is whether the labor market remains charged up. There may be some signs that it is slowing given layoffs in the tech industry and the modest upturn in initial unemployment claims in recent weeks.

November's Consumer Confidence Index (Tue.) should show that jobs remain plentiful, giving a boost to the present component of the index. November's ADP employment and October's JOLTS reports (both Wed.) may show some slowing in hiring and quits, and a further decline in job openings from their record highs earlier this year. But they all should remain historically elevated. November's Challenger Employment report and initial unemployment claims for the November 26 week (both Thu.) should show some erosion as a result of tech layoffs.