8. DECENT WORK AND ECONOMIC GROWTH

3 Economic Events That Could Affect Your Portfolio This Week, July 31-August 4, 2023 – TipRanks.com

3 Economic Events That Could Affect Your Portfolio This Week, July 31-August 4, 2023 – TipRanks.com
Written by ZJbTFBGJ2T

3 Economic Events That Could Affect Your Portfolio This Week, July …  TipRanks

3 Economic Events That Could Affect Your Portfolio This Week, July 31-August 4, 2023 – TipRanks.com

Investors’ Focus on Economic Reports and Sustainable Development Goals (SDGs)

Investors’ attention this week will be focused on the purchasing managers indexes for the manufacturing and services sectors, presenting the outlook for the entire U.S. economy. But the pinnacle of the week is the job market data deluge, coming on Friday, which will shed some light on last month’s developments in terms of jobs created and lost, as well as wage increases. These and other reports will help shape expectations of the Federal Reserve’s monetary decisions in the months ahead.

Here are three economic events that could affect your portfolio this week:

  1. July’s ISM Manufacturing PMI – Tuesday, 8/01
  2. The report, released by the Institute for Supply Management, shows business conditions in the U.S. manufacturing sector. It is a significant indicator of the overall economic conditions. PMIs are considered to be one of the most reliable leading indicators for assessing the state of the U.S. economy, helping analysts and economists to correctly anticipate changing economic trends.

  3. July’s ISM Services PMI – Thursday, 8/03
  4. The report, released by the Institute for Supply Management, shows business conditions in the U.S. services sector, the largest and most important GDP contributor. The ISM Services PMI is a forward-looking indicator, providing an important insight into the factors that influence the GDP growth and the inflation. When the business activity index rises, investors may assume that the stock markets will increase because of higher anticipated company earnings.

  5. July’s Nonfarm Payrolls and Unemployment Rate – Friday, 8/04
  6. The Nonfarm Payrolls and Unemployment reports, released by the U.S. Bureau of Labor Statistics, present the number of new jobs created during the previous month, and the percentage of people that were actively seeking employment in the previous month. These reports are considered two of the most important economic indicators, as policymakers follow the shift in the number of positions since it is strongly associated with the health of the economy as a whole. One of the mandates of the Federal Reserve is full employment, and it takes labor market changes into account when determining its policy decisions, which influence the capital markets.

For a full listing of all upcoming economic events, check out the TipRanks Economic Calendar.

SDGs, Targets, and Indicators

SDGs Targets Indicators
SDG 8: Decent Work and Economic Growth Target 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value Indicator 8.5.1: Average hourly earnings of female and male employees, by occupation, age group, and persons with disabilities
SDG 8: Decent Work and Economic Growth Target 8.6: By 2020, substantially reduce the proportion of youth not in employment, education or training Indicator 8.6.1: Proportion of youth (aged 15-24 years) not in education, employment, or training
SDG 8: Decent Work and Economic Growth Target 8.8: Protect labor rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment Indicator 8.8.1: Frequency rates of fatal and non-fatal occupational injuries, by sex and migrant status
SDG 9: Industry, Innovation and Infrastructure Target 9.2: Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries Indicator 9.2.1: Manufacturing value added as a proportion of GDP and per capita
SDG 9: Industry, Innovation and Infrastructure Target 9.3: Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets Indicator 9.3.1: Proportion of small-scale industries in total industry value added

1. Which SDGs are addressed or connected to the issues highlighted in the article?

SDG 8: Decent Work and Economic Growth

The article discusses the job market data deluge, which includes information on jobs created and lost, as well as wage increases. These topics are directly related to SDG 8, which aims to promote sustained, inclusive, and sustainable economic growth, full and productive employment, and decent work for all.

SDG 9: Industry, Innovation and Infrastructure

The article mentions the ISM Manufacturing PMI, which provides insights into business conditions in the U.S. manufacturing sector. This is connected to SDG 9, which focuses on promoting inclusive and sustainable industrialization and fostering innovation.

2. What specific targets under those SDGs can be identified based on the article’s content?

Target 8.5: By 2030, achieve full and productive employment and decent work for all women and men, including for young people and persons with disabilities, and equal pay for work of equal value

The article discusses the Nonfarm Payrolls and Unemployment Rate reports, which provide information on the number of new jobs created and the percentage of people seeking employment. These reports are important indicators for measuring progress towards achieving full and productive employment.

Target 8.6: By 2020, substantially reduce the proportion of youth not in employment, education or training

The article mentions the Nonfarm Payrolls report, which includes data on youth employment. This is relevant to Target 8.6, which aims to reduce the proportion of youth not in employment, education, or training.

Target 8.8: Protect labor rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment

The article does not directly mention labor rights or working environments, but it highlights the importance of job market data and its influence on the Federal Reserve’s policy decisions. This indirectly connects to Target 8.8, which focuses on protecting labor rights and promoting safe working environments.

Target 9.2: Promote inclusive and sustainable industrialization and, by 2030, significantly raise industry’s share of employment and gross domestic product, in line with national circumstances, and double its share in least developed countries

The article discusses the ISM Manufacturing PMI, which provides insights into business conditions in the U.S. manufacturing sector. This is relevant to Target 9.2, which aims to promote inclusive and sustainable industrialization.

Target 9.3: Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets

The article does not directly mention access to financial services or the integration of small-scale enterprises into value chains and markets. Therefore, there are no specific targets identified in the article for Target 9.3.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

Indicator 8.5.1: Average hourly earnings of female and male employees, by occupation, age group, and persons with disabilities

The article mentions wage increases, which can be used as an indicator to measure progress towards achieving equal pay for work of equal value.

Indicator 8.6.1: Proportion of youth (aged 15-24 years) not in education, employment, or training

The article mentions the Nonfarm Payrolls report, which includes data on youth employment. This data can be used as an indicator to measure progress towards reducing the proportion of youth not in employment, education, or training.

Indicator 8.8.1: Frequency rates of fatal and non-fatal occupational injuries, by sex and migrant status

The article does not mention occupational injuries or provide any data related to this indicator. Therefore, there are no specific indicators mentioned or implied in the article for Indicator 8.8.1.

Indicator 9.2.1: Manufacturing value added as a proportion of GDP and per capita

The article discusses the ISM Manufacturing PMI, which provides insights into business conditions in the U.S. manufacturing sector. This data can be used as an indicator to measure progress towards promoting inclusive and sustainable industrialization.

Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.

Source: tipranks.com

 

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