Rare Thursday jobs day
It's a condensed week in the US because of a holiday and that means the June jobs report will be published at the bottom of the hour.
The market is looking for 3058K new jobs and a dip in the unemployment rate to 12.5% from 13.3%. Last month, Trump held an hour-long lecture after the jobs data to extol the rebound and if the numbers are good today, we may be hearing more of the same.
The real intrigue for me is in the unemployment number, it could be much higher. I explained why in a post earlier this week.
It's not just the jobs report we're watching for, weekly initial jobless claims (exp +1350K) are due at the same time. Later we also get the factory orders report for May.
