What to Look Out for in Economic Data This Week (December 15-19)

The final full week of 2025 is jam-packed with economic data – most notably, key updates on inflation and the labor market. These reports follow the December Fed meeting, where the central bank cut rates for a third straight time but reiterated a data-dependent approach to future policy decisions.

Economic data we're watching

Tuesday, December 16: Nonfarm payrolls: The November jobs report, delayed due to the record-long government shutdown, showed continued weakness in the labor market.

Thursday, December 18: Consumer Price Index and core CPI: While it won't be the cleanest read on inflation, CPI and core CPI were likely up 3.1% year over year in November, says Barclays.

From just $107.88 $24.99 for Kiplinger Personal Finance

Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues

CLICK FOR FREE ISSUE

Sign up for Kiplinger’s Free Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

Read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released in the next several days. At times, we provide expanded previews and recaps for select reports.

Please check back often. This economic calendar is updated regularly. Bolded reports are those considered more noteworthy. All reporting times are in Eastern Time.

Reports that have been delayed due to the government shutdown are marked with an asterisk (*).

Monday (12/15)

Tuesday (12/16)

The November jobs report came in higher than expected, but the unemployment rate hit a four-year high

At its December policy meeting, the Federal Open Market Committee lowered the federal funds rate for a third straight time, citing slowing job gains and a rising unemployment rate.

Indeed, while the September jobs report came in higher than expected, job growth for July and August was downwardly revised and the unemployment rate rose to 4.4%.

And the November jobs report, while beating expectations, signaled continued weakness in the labor market.

According to the Bureau of Labor Statistics (BLS), nonfarm payrolls rose by 64,000 in November, beating economists' estimate for 45,000 new jobs. The report also showed 105,000 job losses for October, while figures for August were revised down by 22,000, from -4,000 to -26,000, and September's additions were revised lower by 11,000, from +119,000 to +108,000.

Meanwhile, the unemployment rate, which is calculated from a separate survey, rose to 4.6% from 4.4% in September – its highest level in more than four years.

"The October and November payroll releases set a modestly dovish tone for U.S. monetary policy in 2026," says Jeff Schulze, head of Economic and Market Strategy at ClearBridge Investments. "The rise in the unemployment rate is something to keep an eye on and will keep the hopes of another cut alive in the first quarter since labor slack appears to be gradually building."

Wednesday (12/17)

Thursday (12/18)

The November CPI is unlikely to offer a "clean" read on inflation, says Barclays economist

Barclays analyst Pooja Sriram suggests we're "through the looking glass" when it comes to Consumer Price Index (CPI) data for November, which will highlight the economic calendar next week.

The Bureau of Labor Statistics (BLS) will release the November CPI report ahead of Thursday's open, a week later than planned, Sriram notes. She adds that the BLS won't publish headline and core CPI data for October.

"On balance," Sriram observes, "markets will have to rely on two-month price changes from September to November, and the annual rate for November." Because the BLS is not offering guidance for the missing October data, "the November report is unlikely to be seen as a 'clean' read on inflation."

For what it's worth, the economist expects a cumulative 0.5% increase from September to November, with CPI up 3.1% year over year amid higher energy prices.

As for core CPI, which excludes volatile food and energy prices, Sriram forecasts a 0.6% cumulative rise from September to November and a 3.1% annual increase.

Friday (12/19)

Reporting schedules are provided Forex Factory and MarketWatch.

Related content

• Kiplinger's Earnings Calendar
• Kiplinger's Economic Forecasts
• Stock Market Trading Hours
• Stock Market Holidays in 2025
• When Is the Next Fed Meeting?