With the first day of the month falling on a Saturday, this will be a later-than-usual jobs week. Economists expect the labor market to continue cooling, with the U.S. economy forecast to have added just 85,000 jobs in July. The unemployment rate is expected to tick up to 4.3%.
Jobs week begins Tuesday with the JOLTS report, which is expected to show job openings falling to 7.3 million on the final business day of June. On Wednesday, ADP’s private payroll report is forecast to show employers added 80,000 jobs in July.
Thursday brings the weekly jobless claims report, with initial claims expected to edge up to 200,000 ahead of Friday’s closely watched employment report.
Also happening this week:
MONDAY: ISM Manufacturing is expected to have risen slightly to 53.8 in July
TUESDAY: The trade deficit is expected to have fallen to $73 billion in June
FRIDAY: Consumer credit is expected to have risen by $10B in June