🗓️ Economic Data of the Week
“Week of August 3rd to August 7th”
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This week’s economic calendar is highlighted by Friday’s July Employment Report, one of the most important releases ahead of the Fed’s September meeting.
Economists expect Nonfarm Payrolls to increase 84,000 from 57,000 last month, while the unemployment rate is expected to remain at 4.2%. Average hourly earnings are projected to hold at 3.5%, and the labor-force participation rate is expected to edge up to 61.6%.
Labor-market data begins Tuesday with JOLTS Job Openings (expected 7.501 million) and continues Wednesday with ADP Payrolls (expected 68,000).
On Thursday, investors will watch Initial Jobless Claims (expected 202,000), along with Productivity and Unit Labor Costs for additional insight into inflation pressures.
The week also includes Construction Spending on Monday and both the ISM Manufacturing PMI and ISM Services PMI, which are expected to remain in expansion territory.
Following the Fed’s decision to hold rates steady, this week’s data could play a key role in shaping expectations for September monetary policy.
How do you think this week’s reports will affect the market?
Let me know what you think in the comments.
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