The economic signals to keep an eye out for this week — and other happenings in the world of work

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Catch up on other headlines from the last 7 days.

• Consumer confidence sank in February, according to The Conference Board. Read more about this — and the upcoming economic signals that contribute to falling sentiment — below.
• Inflation slowed in January. The core U.S. Personal Consumption Expenditures Index rose 2.6% from a year earlier, the Commerce Department reported Friday, matching the smallest annual increase since early 2021. This key price gauge is closely tracked by the Federal Reserve and likely gives the central bank room to keep interest rates on hold as consumers curb their spending. ??Cate Chapman
• Layoff fears are rising. Americans are growing more concerned about losing their jobs, according to a Federal Reserve Bank of Philadelphia survey. Nearly one-third of workers fear layoffs, a concern that’s risen sharply in the past six months. Stress is highest among workers aged 18-35 and 56-65. ??Rob Sacks
• Pending home sales just fell to an all-time low, according to the National Association of Realtors. An indication of future closings, the metric reached its lowest level in January since the group began tracking the data in 2001. Cold weather, high borrowing costs and persistently expensive asking prices all contributed to the slump. Mortgage rates, which remained above 7% for all of January, recently fell below 6.8%, their lowest level in over two months. ??Laura Entis
• Spring break spending is spiking. Travelers appear willing to pay up this spring break, with the average insured trip expected to top $8,300 this year, Bloomberg reports, citing a survey by travel insurance company Squaremouth and its analysis of 6,000 planned trips. The 2025 estimate is a 26% jump from last year's $6,125, and double the cost compared to 2019. ??Jake Perez

Take a closer look at recent trending topics — and engage with meaningful conversations happening on LinkedIn.

The numbers to watch this week

• Consumer confidence sank in February. The Conference Board said its index fell to 98.3 from 105.2 in January, further than initially forecast. "As the job market has cooled, hiring has slowed, and consumers face increasing pressure from high prices and rising interest rates, which is reflecting in falling consumer confidence," economic analyst Mark Hamrick explained. The Conference Board found that views on the labor market are also weakening.
• New relevant data lands later this week, with the Bureau of Labor Statistics set to share the February jobs report on Friday. The report is expected to show the economy added 133,000 jobs last month, after 143,000 in the month prior, according to a consensus forecast from FXStreet. Economists also expect the unemployment rate to hold steady. "Don't look for significant impacts in this report from the recent federal government firings and layoffs," Hamrick continued. "Those will likely show up in future reports, including March and beyond."
• Given this current "backdrop of uncertainty," Hamrick recommends professionals stay focused on networking and shoring up finances. "Paying down high-cost debt and building emergency savings is crucial," he said.

What job seekers want

• Those on the job market are likely searching for three things: Strong compensation, work-life balance and flexibility, according to a recent LinkedIn survey.?
• There's also been some recent shifts in what employees are looking for when considering a new job in this tightening job market. Compared to last quarter, more candidates are now looking for "challenging, impactful work," and prioritizing a collaborative workplace culture. Meanwhile, there's been a slight dip in candidates looking for flexible workplaces, opportunities for career growth and opportunities to learn new skills.
• Nicole Fernandez-Valle, a recruiting professional, recommends that job seekers "make a month by month timeline dictating all your minimum and preferred qualifications for a job — just like how a company does for candidates." In the first month, only apply to roles that check all the boxes. In the second, revisit that list. "Figure out what job qualifications are 'must haves' vs. 'nice to haves'," she recommended. "It can make sure you are open to as many opportunities as possible."

Managers are expecting raises

• Despite the pressures facing management-level employees, there's still some good news for them: Managers are more likely to be anticipating a pay raise than their more senior and junior colleagues.
• Half of U.S. managers expect to receive a pay bump by June, compared to 43% of individual contributors and 45% of employees at the director level and above, according to recent findings from LinkedIn's Workforce Confidence survey. Managers were also more likely to have received a raise in 2024. Nearly two-thirds of managers (64%) snagged raises, compared to 59% of individual contributors and 55% of senior leaders.
• Senior management professional Antonio Jimenez commented this aligns with what he's seeing within his network. "Managers often have the most leverage when it comes to raises," he shared. He recommended those looking to make the most of that leverage "document all wins, have regular career development conversations with leadership and take on high-visibility projects that directly impact business priorities."

Get ready for the week by seeing what’s coming up.

Monday, March 3:

• The Institute for Supply Management released its monthly Purchasing Managers’ Index, which tracks if the manufacturing sector is expanding. A non-manufacturing version lands later in the week.

Wednesday, March 5:

• The Institute for Supply Management will release its monthly Purchasing Managers’ Index, which tracks if the non-manufacturing sector is expanding. It is an indicator of economic health.

Thursday, March 6:

• The U.S. Department of Labor will release initial jobless claims for the previous week. The report, a proxy for layoffs, tracks the number of people filing for unemployment benefits.

Friday, March 7:

• The Bureau of Labor Statistics will release the February jobs report. The monthly release tracks the unemployment rate and how many jobs were added to the economy.