Friday: Jobs and Wages, Trade Deficit

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.

from
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