Friday's job numbers may not be what you expect. The report is likely to show slower job growth from last year due to a regular update to the government's data — likely among the biggest payroll adjustments in years.

On Friday at 8:30 a.m. ET, the Bureau of Labor Statistics will release the January jobs report; and, by and large, economists expect that job gains continued to slow to pre-pandemic norms but remained fairly solid (although,