Thursday, June 02, 2016

Friday: Jobs and Wages, Trade Deficit

by Bill McBride on 6/02/2016 08:01:00 PM

Here is the BLS Strike Report (mentioned earlier). The report shows 35,100 Verizon workers on strike during the May reference period.

Earlier on the payroll report:

From CR: Preview of May Employment Report

And The Verizon Strike and the May Employment Report

And Goldman's May NFP Preview

"We forecast that nonfarm payroll employment increased by 165,000 in May [and] the U3 unemployment rate to decline to 4.9% [and] Average hourly earnings likely rose at a trend-like pace of 0.2% last month."
Friday:
• At 8:30 AM ET, the Employment Report for May. The consensus is for an increase of 158,000 non-farm payroll jobs added in May, down from the 160,000 non-farm payroll jobs added in April. The consensus is for the unemployment rate to decline to 4.9%.

• Also at 8:30 AM, the Trade Balance report for April from the Census Bureau. The consensus is for the U.S. trade deficit to be at $41.0 billion in April from $40.4 billion in March.

• At 10:00 AM, the ISM non-Manufacturing Index for May. The consensus is for index to decrease to 55.5 from 55.7 in April.

• Also at 10:00 AM, Manufacturers' Shipments, Inventories and Orders (Factory Orders) for April. The consensus is a 2.0% increase in orders.