The U.S. and U.K. reach a new trade deal.

From Marketplace, I'm Nancy Marshall Ginsburg, in for David Bancaccio.

First, we'll get lots of new data this week.

The stock market is also on a role.

We're joined now by Julia Coronado.

She's founder and president of macro policy perspectives

and a professor at the University of Texas, Austin.

Good morning, Julia.

Good morning.

This is a short but busy week.

We'll get a number of reports on the labor market with the big jobs report on Thursday.

What will you be looking for in the tea leaves of all that data?

So job growth has been slowing in the U.S.

And we expect continued slowing. Most economists are looking for a number closer to

100,000 jobs created down from, say, 140,000 last month and much stronger numbers last year.

Is there a jobs benchmark the Federal Reserve is looking for? last month and much stronger numbers last year.

Is there a jobs benchmark the Federal Reserve is looking for?

So if we see job creation below, say, 100,000, would that nudge Fed officials toward a rate cut next month?

Well, that's a tricky question because the job's growth is expected to slow in part because immigration is slowing. And when immigration slows, there's fewer workers to hire. And that's not

necessarily a problem. It just means the U.S. labor market will grow slower. So we use the

unemployment rate as the guide to whether the labor market

is actually weakening. If that's rising, that tells you that labor supply isn't strong enough to

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