Jobs are the main focus on the economic calendar during the holiday-shortened week.
Thursday morning's release of the June nonfarm payrolls report is arguably the most notable following Federal Reserve Chair Jerome Powell's congressional testimony, where he underscored strength in the labor market.
Thursday, July 3: Nonfarm payrolls report: Job growth likely slowed in June, say BofA Securities economists.
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Read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released in the next several days. At times, we provide expanded previews and recaps for select reports.
Please check back often. This economic calendar is updated regularly.
Bolded reports are those considered more noteworthy. All reporting times are in Eastern Time.
Economic calendar highlights
Monday (6/30)
Economic report | Period | Time released |
Chicago Purchasing Managers Index (PMI) | June | 9:45 am |
Atlanta Fed President Raphael Bostic speaks | N/A | 10 am |
Chicago Fed President Austan Goolsbee speaks | N/A | 1 pm |
Tuesday (7/1)
Economic report | Period | Time released |
Fed Chair Jerome Powell speaks | N/A | 9:30 am |
S&P Global Final Manufacturing PMI | June | 9:45 am |
Institute for Supply Management (ISM) Manufacturing PMI | June | 10 am |
Job Openings and Labor Turnover Survey (JOLTS) | May | 10 am |
Construction spending | May | 10 am |
Wednesday (7/2)
Economic report | Period | Time released |
ADP National Employment Report | June | 8:15 am |
Thursday (7/3)
Job growth likely slowed in May
Fed Chair Powell reiterated during his late-June congressional testimony that the labor market remains strong.
However, he also noted that if it were to "meaningfully weaken in a way that was concerning," the central bank could be inclined to consider rate cuts sooner rather than later.
The May jobs report came in stronger than economists' anticipated, "but downward revisions in March and April suggest that the slowing trend will continue," writes David Payne, staff economist at The Kiplinger Letter, in the Kiplinger jobs outlook.
For the June data, BofA Securities economists expect the U.S. to have added 95,000 jobs – well below May's 139,000. They also believe the unemployment rate ticked up to 4.3% from 4.2%.
"Although the initial claims increase in recent weeks can be attributed to seasonal volatility, continuing claims were also high during the survey week," the group writes. "We also see headwinds from weak college graduates hiring and summer job cuts for education and health workers."
The economists add that job growth in leisure and hospitality often slows down in June when Memorial Day arrives early, as it did this year.
As a reminder, the stock market will close early on Thursday, at 1 pm Eastern Standard Time, while the bond market will wrap up trading at 2 pm.
Economic report | Period | Time released |
Weekly jobless claims | Week ending June 28 | 8:30 am |
Nonfarm payrolls report | June | 8:30 am |
Trade balance | May | 8:30 am |
S&P Global Final Services PMI | June | 9:45 am |
ISM Services PMI | June | 10 am |
Factory orders | May | 10 am |
Atlanta Fed President Raphael Bostic speaks | N/A | 11 am |
Friday (7/4)
Friday, July 4, is a stock market holiday, with trading shuttered in observance of Independence Day. The bond market is also closed.
There are no noteworthy economic reports scheduled for release.
Reporting schedules are provided Forex Factory and MarketWatch.
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