As traders approach another pivotal day for financial markets on Thursday, July 3, 2025, a series of crucial economic data releases that could sway market dynamics are expected. The spotlight will be on the highly anticipated nonfarm payrolls report, unemployment rate, and average hourly earnings data. Additionally, key services sector indicators, including the Services PMI and ISM Non-Manufacturing PMI, will provide insights into the health of the largest segment of the U.S. economy.
Major Economic Events to Watch:
• 8:30 AM ET - Nonfarm Payrolls (Jun): Forecast 120K, Previous 139K. Key indicator of job creation and economic health.
• 8:30 AM ET - Unemployment Rate (Jun): Forecast 4.3%, Previous 4.2%. Measures the percentage of the total workforce that is unemployed.
• 8:30 AM ET - Average Hourly Earnings (MoM) (Jun): Forecast 0.3%, Previous 0.4%. Indicates wage growth and potential inflationary pressures.
• 8:30 AM ET - Initial Jobless Claims: Forecast 239K, Previous 236K. Measures new unemployment insurance claims.
• 9:45 AM ET - Services PMI (Jun): Forecast 53.1, Previous 53.1. Indicates the health of the services sector.
• 10:00 AM ET - ISM Non-Manufacturing PMI (Jun): Forecast 50.8, Previous 49.9. Comprehensive measure of the non-manufacturing sector’s performance.
Other Important Economic Events to Watch:
• 8:30 AM ET - Private Nonfarm Payrolls (Jun): Forecast 110K, Previous 140K. Measures private sector job creation.
• 8:30 AM ET - Trade Balance (May): Forecast -$69.90B, Previous -$61.60B. Indicates the difference between imports and exports.
• 8:30 AM ET - Average Hourly Earnings (YoY) (Jun): Forecast 3.9%, Previous 3.9%. Year-over-year wage growth indicator.
• 8:30 AM ET - Labor Force Participation Rate (Jun): Previous 62.4%. Measures the active workforce as a percentage of the working-age population.
• 8:30 AM ET - Continuing Jobless Claims: Forecast 1,960K, Previous 1,974K. Measures ongoing unemployment insurance claims.
• 8:30 AM ET - Exports (May): Previous $289.40B. Measures the total value of exported goods and services.
• 8:30 AM ET - Imports (May): Previous $351.00B. Measures the total value of imported goods and services.
• 9:45 AM ET - S&P Global Composite PMI (Jun): Forecast 52.8, Previous 52.8. Composite indicator of manufacturing and services sector activity.
• 10:00 AM ET - ISM Non-Manufacturing Employment (Jun): Previous 50.7. Measures employment trends in the non-manufacturing sector.
• 10:00 AM ET - Factory Orders (May): Forecast 7.9%, Previous -3.7%. Indicates the value of new purchase orders placed with manufacturers.
• 11:00 AM ET - FOMC Member Bostic Speaks. Atlanta Fed President’s remarks may offer insights into monetary policy.
• 1:00 PM ET - Baker Hughes (NASDAQ: BKR ) U.S. Rig Count: Previous 432. Indicates oil drilling activity in the U.S.
• 1:00 PM ET - U.S. Baker Hughes Total Rig Count: Previous 547. Measures total oil and gas rig activity.
• 1:00 PM ET - Atlanta Fed GDPNow (Q2): Forecast 2.5%, Previous 2.5%. Provides a running estimate of real GDP growth.
Other Economic Events to Watch:
• 8:30 AM ET - Manufacturing Payrolls (Jun): Previous -8K. Measures employment changes in the manufacturing sector.
• 8:30 AM ET - Government Payrolls (Jun): Previous -1.0K. Measures employment changes in the government sector.
• 8:30 AM ET - Average Weekly Hours (Jun): Forecast 34.3, Previous 34.3. Indicates the average number of hours worked per week.
• 8:30 AM ET - U6 Unemployment Rate (Jun): Previous 7.8%. Broader measure of unemployment including underemployed workers.
• 8:30 AM ET - Jobless Claims 4-Week Average: Previous 245.00K. Smoothed measure of initial jobless claims.
• 10:00 AM ET - Factory Orders ex Transportation (May): Previous -0.5%. Measures factory orders excluding the volatile transportation sector.
• 10:00 AM ET - Durable Goods Orders ex Transportation (May): Previous 0.5%. Measures durable goods orders excluding transportation.
• 10:00 AM ET - ISM Non-Manufacturing New Orders (Jun): Previous 46.4. Indicates new order trends in the non-manufacturing sector.
• 10:00 AM ET - Durable Goods Orders ex Defense (May): Previous 15.5%. Measures durable goods orders excluding defense-related orders.
• 10:00 AM ET - ISM Non-Manufacturing Business Activity (Jun): Previous 50.0. Measures business activity in the non-manufacturing sector.
• 10:00 AM ET - ISM Non-Manufacturing Prices (Jun): Previous 68.7. Indicates price trends in the non-manufacturing sector.
• 10:30 AM ET - Natural Gas Storage: Previous 96B. Measures the change in natural gas held in underground storage.
• 11:30 AM ET - 4-Week Bill Auction: Previous 4.000%. Treasury bill auction results.
• 11:30 AM ET - 8-Week Bill Auction: Previous 4.390%. Treasury bill auction results.
For further information and the latest updates, please refer to our Economic Calendar, here .
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.