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Economic calendar: Labour market data in the spotlight

7:28 AM 5 June 2020

  • US NFP report may address misreporting in April

  • Canadian employment seen dropping by 500k jobs

Labour market data from the United States and Canada are top releases of the day. US Bureau of Labor Statistics said that there was some misreporting in April's release and the real unemployment rate was higher than 14.7% reported. If BLS decides to address the issue in today's release we may see a big jump in unemployment figures. Apart from that, traders should follow oil news today amid chatter of holding OPEC+ meeting tomorrow.

9:00 am BST - Italy, retail sales for April. Expected: -10% YoY. Previous: -20.5% YoY

1:30 pm BST - US, NFP report for May.

  • Change in non-farm payrolls. Expected: -8000k. Previous: -20500k

  • Wage growth. Expected: 8.6% YoY. Previous: 7.9% YoY

  • Unemployment rate. Expected: 19.7%. Previous: 14.7%

  • Average working hours per week. Expected: 34.3h. Previous: 34.2h

1:30 pm BST - Canada, labour market report for May.

  • Change in employment. Expected: -500k. Previous: -1993.8k

  • Unemployment rate. Expected: 15%. Previous: 13%

6:00 pm BST - US oil rig count. Last week: 222

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