What to Look Out for in Economic Data This Week (June…

What to Look Out for in Economic Data This Week (June 1-5)

A handful of central bank officials will speak this week, with the quiet period around Kevin Warsh's first FOMC meeting as Fed chair set to begin at 12 am Eastern Standard Time on Saturday, June 6.

Still, the main event is Jobs Friday, with the Bureau of Labor Statistics (BLS) scheduled to deliver the nonfarm payrolls report for May before the opening bell on June 5.

The economic calendar also includes April data on job openings and labor turnover as well as weekly unemployment claims.

Markets will monitor this week's Fed speeches and incoming employment market data for information about what a Warsh Fed will do with the federal funds rate amid persistent inflation.

Economic reports we're watching

Friday, June 5: Nonfarm payrolls report: We saw sharp gains in the April jobs report following a strong March. February's big decline looks like an outlier amid a solid underlying trend. The BLS will confirm or refute that view before the opening bell on Jobs Friday.

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.

Monday (6/1)

Noteworthy economic reports
Time released	Economic report	Period
10 am	Institute for Supply Management (ISM) Manufacturing PMI	May
10 am	Construction spending	April
11:50 pm	Minneapolis Fed President Neel Kashkari speaks	N/A

Tuesday (6/2)

Noteworthy economic reports
Time released	Economic report	Period
8:55 am	Cleveland Fed President Beth Hammack speaks	N/A
10 am	Job Openings and Labor Turnover Survey (JOLTS)	April

Wednesday (6/3)

Noteworthy economic reports
Time released	Economic report	Period
8:15 am	ADP National Employment Report	May
9 am	Fed Governor Michael Barr speaks	N/A
10 am	Factory orders	April
10 am	ISM Services PMI	May
2 pm	Beige Book	N/A

Thursday (6/4)

Noteworthy economic reports
Time released	Economic report	Period
8:30 am	Weekly jobless claims	Week ending May 30
8:30 am	Productivity	Q1

Friday (6/5)

Fresh labor market signals

Barclays Chief U.S. Economist Marc Giannoni estimates that nonfarm payroll employment grew by 75,000 in May following sharp gains in March (+185,000) and April (+115,000).

"Given the monthly volatility in the first four months of the year," Giannoni explains, "we expect the Fed to focus more than usual on moving averages of the headline payroll gain."

The economist says his May headline forecast tracks to a four-month moving average — "which we view as likely giving a better sense of the underlying trend" — of 55,000.

"Uncertainty about our official forecast remains elevated," Giannoni explains, "with various indicators and approaches sending unusually divergent signals."

The economist expects the unemployment rate to round up to 4.3% in May vs April's increase to 4.337% from 4.256% in March.

"Although outlook uncertainty has intensified in recent weeks, we retain our baseline that the unemployment rate will trend lower over the course of 2026, with slow job gains still somewhat exceeding the modest breakeven pace," the analyst concludes.