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Schedule for the week of June 2, 2024

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by Calculated Risk June 1, 2024 8:11 AM

The main report due this week is the May employment report.

Other key reports include ISM manufacturing for May, auto sales and trade balance for April.


—– Monday, June 3 —–

10 am: ISM Manufacturing Index The consensus forecast is for the ISM index to rise to 49.7 from 49.2 in May.

10 am: Construction Expenditures Construction spending is expected to increase 0.2% in April.

slow: Light vehicle sales For May.

The consensus forecast is that light vehicle sales in May will increase to 15.9 million units (SAAR) from 15.7 million units (seasonally adjusted annual rate) in April.

This graph shows light vehicle sales since BEA began collecting data in 1967. The dashed line is last month’s sales rate.

—– Tuesday, June 4th —–


Job/resignation survey 10AM ET: Job/resignation survey April report from the BLS.

The graph shows job openings from JOLTS (black line), hiring (purple), layoffs, layoffs and others (red columns), and resignations (light blue columns).

The number of job openings in March decreased to 8.49 million from 8.81 million in February. The number of job openings (black) decreased 12% from the previous year.


—– Wednesday, June 5th —–

7:00 AM EST: The Mortgage Bankers Association (MBA) Mortgage Purchase Application Index.

8:15 AM: ADP Employment Report May employment. This report only covers private sector payrolls, not government payrolls. The consensus is that May employment will increase by 174,000, down from 192,000 in April.

10 am: ISM Service Index The May forecast calls for it to rise to 50.5 from 59.4.


—– Thursday, June 6th —–


U.S. Trade Deficit8:30 AM: Trade balance report April statistics from the Census Bureau.

This graph shows the US trade deficit with and without oil.

The blue line is the total deficit, the black line is the oil surplus, and the red line is the trade deficit excluding petroleum products.

The trade deficit is generally expected to be $69.7 billion. The U.S. trade deficit was $69.4 billion in March.

8:30 AM: Unemployment claims per week The report is due to be released. The consensus is for new claims to be 215,000, down from last week’s 219,000.


—– Friday, June 7th —–


Number of jobs per month8:30 AM: Employment Report Payrolls are expected to increase by 180,000 in May, with the unemployment rate expected to remain unchanged at 3.9%.

In April, 175,000 jobs were added, bringing the unemployment rate to 3.9%.

This chart shows the number of jobs added each month since January 2021.

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