Jobs report is out today. Live updates on stock market, unemployment rates and more.

It’s been a big week for economic news, an economic Olympics if you will.

Competition has been fierce for which report can provide the best window into the future of the US economy. After lots of action this week, there’s one final event left before the closing ceremony: the jobs report.

The report is certainly a front-runner for a gold medal.

Economists predict this will be one of the first reports where we observe a more significant hiring slowdown. Still, the unemployment rate is expected to remain near historic lows.

Follow along as we review the top competitors in this week’s economic Olympics and what to expect from the final event.

A hiring sign is displayed outside of a retail store in Vernon Hills, Ill., Saturday, Nov.  13, 2021.

A hiring sign is displayed outside of a retail store in Vernon Hills, Ill., Saturday, Nov. 13, 2021.

December jobs report:Nonfarm payroll employment increased by 223,000

What a 2023 recession would mean: Job losses for most industries even as others add workers

Jobs report today time

The report is set to come out at 8:30 am ET.

Dow futures

Ahead of the jobs report, futures traded for the Dow Jones Industrial Average are down.

Stock market post-Fed meeting

Stocks rallied on Wednesday after the Fed raised interest rates. Investors were initially rocked by the Fed’s inclusion of the word “ongoing” in its statement, referring to rate hikes. But Fed Chair Powell’s remarks later in the day quelled investors who celebrated the improving levels of inflation.

PayPal layoffs

Two of the biggest headline-making layoffs this week were PayPal and FedEx. PayPal announced it’s laying off 2,000 workers, or 7% of its workforce. This comes as the tech industry laid off nearly 87,000 workers so far this year and almost 160,000 last year, according to data from Layoffs.Fyi.

FedEx layoffs

FedEx’s layoffs were unique in that they weren’t directly concentrated in the tech sector. FedEx announced on Wednesday that it would be laying off 10% of management in top positions. The company didn’t specify how many workers would be impacted.

Elisabeth Buchwald is a personal finance and markets correspondent for USA TODAY. You can ffollow her on Twitter @BuchElisabeth and sign up for our Daily Money newsletter here

This article originally appeared on USA TODAY: Jobs report today: Unemployment rate set to rise for January 2023