Two Datapoints For Economic Hipsters Are Coming Out Today

There are two datapoints coming today in the US.

Via Calculated Risk, they are:

At 7:30 AM ET, the NFIB Small Business Optimism Index for July.

At 10:00 AM, the Job Openings and Labor Turnover Survey for June from the BLS. In May, the number of job openings (yellow) were up 19% year-over-year compared to May 2013, and Quits were up 15% year-over-year.

Neither the NFIB survey nor the Job Openings And Labor Turnover Survey (JOLTS) are the kind of report that grabs front-page headlines. But each are favored by economic hipsters who like to follow the surveys that the mainstream folks don't.

The NFIB survey offers an interesting snapshot of the factors pressuring business (labor costs, credit availability, end demand, etc.). And the JOLTS survey (which is one of Janet Yellen's favorite indicators) offers a glimpse of labor market tightness, as it reveals how many job openings they are, and whether they're actually getting filled.

So be cool, and pay attention.