What to Look Out for in Economic Data This Week (November 2-6)

A steady stream of labor market data, including monthly openings and turnover and weekly unemployment claims, builds toward Jobs Friday on this week's economic calendar.

We'll also get manufacturing and services Purchasing Managers' Index (PMI) survey results from S&P and the Institute of Supply Management (ISM).

Note, too, that we'll hear from Cleveland Fed President Beth Hammack, who, along with Fed Governor Lisa Cook, dissented from the decision to hold interest rates at the October Fed meeting, on Thursday morning.

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Economic reports we're watching

Friday, November 6: Nonfarm payrolls report: It may have been a cooler-than-expected September jobs report. But, focused on the inflation problem, the Federal Open Market Committee (FOMC) sees no signs of instability in the workforce or the unemployment rate.

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.

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Monday (11/2)

Tuesday (11/3)

Wednesday (11/4)

Thursday (11/5)

Friday (11/6)

Economic calendar preview: Nonfarm payrolls report

"We estimate that nonfarm payroll employment grew 50,000 in October, following gains in August (+133,000) and September (+29,000)," writes Barclays Chief U.S. Economist Marc Giannoni in a preview of incoming Jobs Friday data.

According to Giannoni's math, his headline forecast would work out to a three-month moving average of 71,000 new jobs, ahead of the 28,000 pace for the three months through July.

The economist forecast an unemployment rate of 4.1% for October, down from 4.2% for September. He expects unemployment to trend lower and job gains to somewhat exceed breakeven pace through 2026.

A combination of 50,000 new jobs and slightly lower joblessness in October "would keep an FOMC hike in play for the December meeting, as it continues to assess data developments," Giannoni concludes.

Reporting schedules are provided Forex Factory and MarketWatch.

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• Kiplinger's Earnings Calendar
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