1. US Job Openings Pick Up to 7.7 Million as Labor Demand Steadies — Available positions increased to 7.74 million from a revised 7.37 million reading in September, the Bureau of Labor Statistics Job Openings and Labor Turnover Survey, known as JOLTS, showed Tuesday. The median estimate in a Bloomberg survey of economists called for 7.52 million openings. The advance in openings was led nearly entirely by professional and business services and accommodation and food services. The overall uptick followed months of steep declines — including a big drop in September. The levels of layoffs decreased to the lowest since June, while quits picked up to the highest since May, indicating workers are more confident in their ability to find a new job.
2. UnitedHealth Exec Brian Thompson Killed in ‘Brazen, Targeted’ Shooting — the shooting took place early Wednesday morning outside a Manhattan hotel where UnitedHealth Group was scheduled to hold its investor conference. The conference began as scheduled at 8 a.m., but was abruptly canceled. Police officials said the suspect targeted Thompson specifically. “This does not appear to have been a random act of violence,” New York City’s police commissioner, Jessica Tisch, said at a press conference. “It appears the suspect was lying in wait for several minutes.”
Thompson was CEO of UnitedHealth Group’s UnitedHealthcare division since 2021. He had previously worked as a senior executive within the division since 2017. UnitedHealthcare is one of the largest insurers in the U.S., with plans covering medical services for 27.3 million people. Its revenue was $281.4 billion in 2023, accounting for 75% of UnitedHealth Group’s total revenue that year.
3. Payrolls increased 227,000 in November, more than expected; unemployment rate at 4.2% — Nonfarm payrolls increased by 227,000 for the month, compared with an upwardly revised 36,000 in October and the Dow Jones consensus estimate for 214,000. September’s payroll count also was revised upward, to 255,000, up 32,000 from the prior estimate. October’s number was held back by impacts from Hurricane Milton and the Boeing strike. The unemployment rate edged higher to 4.2%, as expected. The jobless figure rose as the labor force participation rate nudged lower and the labor force itself declined. A broader measure that includes discouraged workers and those holding part-time jobs for economic reasons moved slightly higher to 7.8%.

The week ahead — Economic data from Econoday.com:

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