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U.S. Economic Calendar Event Update - Jul 5

Friday, July 5, 2013 7:51 AM

These are the U.S. economic calendar events for Friday, July 05, 2013. All times are EST.

Continuing Claims for the week ending on 06/15 are scheduled to be released at 8:30 AM. Analysts are estimating a result of 2955K. The prior period for Continuing Claims had a result of 2965K. This event has a moderate effect on US markets.

Initial Claims for the week ending on 06/29 are scheduled to be released at 8:30 AM. Analysts are estimating a result of 348K. The prior period for Initial Claims had a result of 346K. This event has a moderate effect on US markets.

Nonfarm Payrolls for Jun are scheduled to be released at 8:30 AM. Analysts are estimating a result of 166K. The prior period for Nonfarm Payrolls had a result of 175K. This event has a major effect on US markets.

Nonfarm Private Payrolls for Jun are scheduled to be released at 8:30 AM. Analysts are estimating a result of 180K. The prior period for Nonfarm Private Payrolls had a result of 178K. This event has a major effect on US markets.

Unemployment Rate for Jun are scheduled to be released at 8:30 AM. Analysts are estimating a result of 7.6%. The prior period for Unemployment Rate had a result of 7.6%. This event has a major effect on US markets.

Hourly Earnings for Jun are scheduled to be released at 8:30 AM. Analysts are estimating a result of 0.2%. This event has a low effect on US markets.

Average Workweek for Jun are scheduled to be released at 8:30 AM. Analysts are estimating a result of 34.5. The prior period for Average Workweek had a result of 34.5. This event has a major effect on US markets.

At the release of important events, US equity markets (INDEXSP:.INX) can make major moves. Be sure to keep an eye on S&P (NYSEARCA:SPY), Nasdaq (NYSEARCA:QQQ) and Dow Jones (NYSEARCA:DIA) at the time of announcements.

Here is some more information about the events discussion in this article.

Continuing Claims: An indicator derived from weekly unemployment data used to gauge the current state and direction of employment. The data, supplied by the Department of Labor, consists of those people who have filed a claim and who are still receiving benefits. Critics point to the volatility of the data which makes it somewhat imprecise as a snapshot of employment conditions. When combined with other indicators onto a four-week moving average, it provides a clearer indication. Read more: http://www.businessdictionary.com/definition/continuing-An indicator derived from weekly unemployment data used to gauge the current state and direction of employment. The data, supplied by the Department of Labor, consists of those people who have filed a claim and who are still receiving benefits. Critics point to the volatility of the data which makes it somewhat imprecise as a snapshot of employment conditions. When combined with other indicators onto a four-week moving average, it provides a clearer indication.

Initial Claims: Initial jobless claims measure the number of filings for state jobless benefits. This report provides a timely, but often misleading, indicator of the direction of the economy, with increases (decreases) in claims potential signalling slowing (accelerating) job growth. On a week-to-week basis, claims are quite volatile, and many analysts therefore track a four week moving average to get a better sense of the underlying trend. It typically takes a sustained move of at least 30K in claims to signal a meaningful change in job growth. There are two other statistics in this report -- the number of people receiving state benefits and the insured unemployment rate; neither is watched closely by the market. Some analysts track the number of people receiving state benefits from month to month as a guide for job growth, though this series has a poor track record in predicting the monthly employment report. The insured unemployment rate changes little on a weekly basis and is never a factor for the market.

Nonfarm Payrolls: The nonfarm payrolls released by the US Department of Labor presents the number of people on the payrolls of all non-agricultural businesses. The monthly changes in payrolls can be excessively volatile.

Nonfarm Private Payrolls: The nonfarm payrolls released by the US Department of Labor presents the number of people on the payrolls of all non-agricultural businesses. The monthly changes in payrolls can be excessively volatile.

Unemployment Rate: The Unemployment Rate released by the US Department of Labor is the number of unemployed workers divided by the total civilian labor force.

Hourly Earnings: Each month the Current Employment Statistics (CES) program surveys about 141,000 businesses and government agencies, representing approximately 486,000 individual worksites, in order to provide detailed industry data on employment, hours, and earnings of workers on nonfarm payrolls.

Average Workweek: The employment report is actually two separate reports which are the results of two separate surveys. The household survey is a survey of roughly 60,000 households. This survey produces the unemployment rate. The establishment survey is a survey of 375,000 businesses. This survey produces the nonfarm payrolls, average workweek, and average hourly earnings figures, to name a few. Both surveys cover the payroll period which includes the 12th of each month. The reports both measure employment levels, just from different angles. Due to the vastly different size of the survey samples (the establishment survey not only surveys more businesses, but each business employs many individuals), the measures of employment may differ markedly from month to month. The household survey is used only for the unemployment measure - the market focusses primarily on the more comprehensive establishment survey. Together, these two surveys make up the employment report, the most timely and broad indicator of economic activity released each month. Total payrolls are broken down into sectors such as manufacturing, mining, construction, services, and government. The markets follows these components closely as indicators of the trends in sectors of the economy; the manufacturing sector is watched the most closely as it often leads the business cycle. The data also include breakdowns of hours worked, overtime, and average hourly earnings. The average workweek (also known as hours worked) is important for two reasons. First, it is a critical determinant of such monthly indicators as industrial production and personal income. Second, it is considered a useful indicator of labor market conditions: a rising workweek early in the business cycle may be the first indication that employers are preparing to boost their payrolls, while late in the cycle a rising workweek may indicate that employers are having difficulty finding qualified applicants for open positions. Average earnings are closel

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