Here's a twofer ... a preview of the Nonfarm payroll employment report and a competition!
That's right ... The competition that all the market is waiting for - The Independence Day non-farm payrolls special
Here's a cheat sheet ...
- The June data will be released at 0830am Eastern Time in the US (1230GMT)
- Bloomberg consensus median expected is a gain of 233,000
- NFP employment has risen by an average of around 255,000 every month over the past year
- Construction and healthcare have seen strong hiring
- The mining sector has lost around 68,000 jobs this year ... due to the slump in the oil industry
- ADP data (tracks private companies) overnight showed the quickest pace this year so far (and it impacted on EUR/USD notably)
- Unemployment rate is expected to edge a little lower to 5.4% (from 5.5)
Watch also for the participation rate (expected is 62.9%) ... as jobs grow it'll likely bring more people back into the workforce and impact on the unemployment rate
Watch also for the data on wage growth, it is another indicator of the potential for wage inflation (consensus Bloomberg expected is +2.3% y/y)
