Saturday, September 03, 2016

Schedule for Week of Sept 4, 2016

by Bill McBride on 9/03/2016 08:12:00 AM

This will be light week for economic data.

The preliminary annual benchmark revision for the employment report will be released on Wednesday.

----- Monday, Sept 5th -----

All US markets will be closed in observance of the Labor Day holiday.

----- Tuesday, Sept 6th -----

10:00 AM: the ISM non-Manufacturing Index for August. The consensus is for the index to decrease to 55.0 from 55.5 in July.

10:00 AM ET: The Fed will release the monthly Labor Market Conditions Index (LMCI).

----- Wednesday, Sept 7th -----

7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

Job Openings and Labor Turnover Survey10:00 AM: Job Openings and Labor Turnover Survey for July from the BLS.

This graph shows job openings (yellow line), hires (purple), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.

Jobs openings increased in June to 5.624 million from 5.514 million in May.

The number of job openings (yellow) were up 9% year-over-year, and Quits were up 6% year-over-year.

10:00 AM: 2016 Current Employment Statistics (CES) Preliminary Benchmark Revision. From the BLS:
"Each year, the Current Employment Statistics (CES) survey estimates are benchmarked to comprehensive counts of employment from the Quarterly Census of Employment and Wages (QCEW) for the month of March. These counts are derived from state unemployment insurance (UI) tax records that nearly all employers are required to file. On September 7, 2016 at 10:00 a.m. (EST) the Bureau of Labor Statistics (BLS) will release the preliminary estimate of the annual benchmark revision to the establishment survey employment series. ... The final benchmark revision will be issued with the publication of the January 2017 Employment Situation news release in February."
2:00 PM: the Federal Reserve Beige Book, an informal review by the Federal Reserve Banks of current economic conditions in their Districts.

----- Thursday, Sept 8th -----

8:30 AM ET: The initial weekly unemployment claims report will be released.  The consensus is for 264 thousand initial claims, up from 263 thousand the previous week.

10:00 AM: The Q2 Quarterly Services Report from the Census Bureau.

3:00 PM: Consumer Credit for July from the Federal Reserve.  The consensus is for credit to increase $15.6 billion.

----- Friday, Sept 9th -----

10:00 AM: Monthly Wholesale Trade: Sales and Inventories for July. The consensus is for no change in inventories.