Three Important Datapoints Are Coming Out Today
• At 7:30 AM ET, the NFIB Small Business Optimism Index for June.
• At 10:00 AM, Job Openings and Labor Turnover Survey for May from the BLS. In April, Job Openings were up 17% year-over-year and quits were up 11% year-over-year.
• At 3:00 PM, Consumer Credit for May from the Federal Reserve. The consensus is for credit to increase $17.5 billion.
Why are theses important?
Well the first two should give us fresh insight on the labor market, and provide further pieces to the puzzle about whether wages are rising and slack is diminishing. And the last one will give us new data on credit expansion, which is also a crucial part of the story.
None of these are top-shelf datapoints that the media pays much attention to, but they do give some nice under-the-radar insight into things.