May 6, 2022 Headlines
U.S payrolls increased more than expected by 428,000 last month vs. a median forecast of 380,000 and the unemployment rate was unchanged at 3.6%. The net revision over the last two months was -39,000. Today’s jobs report paints the picture of a strong labor market, which we’ve known for a while, and should do little to change the Fed’s view on inflation.
Hafizan Hamzah
Senior Director, Investment Management Group
Date | Event | Surv(M) | Actual | Prior | Revised |
05/02/22 | S&P Global US Manufacturing PMI | 59.7 | 59.2 | 59.7 | — |
05/02/22 | Construction Spending MoM | 0.80% | 0.10% | 0.50% | — |
05/02/22 | ISM Manufacturing | 57.6 | 55.4 | 57.1 | — |
05/02/22 | ISM Prices Paid | 87.4 | 84.6 | 87.1 | — |
05/02/22 | ISM New Orders | 54.1 | 53.5 | 53.8 | — |
05/02/22 | ISM Employment | 55 | 50.9 | 56.3 | — |
05/03/22 | Factory Orders | 1.20% | 2.20% | -0.50% | 0.10% |
05/03/22 | Factory Orders Ex Trans | — | 2.50% | 0.40% | 1.00% |
05/03/22 | Durable Goods Orders | 0.80% | 1.10% | 0.80% | — |
05/03/22 | Durables Ex Transportation | 1.10% | 1.40% | 1.10% | — |
05/03/22 | Cap Goods Orders Nondef Ex Air | 1.00% | 1.30% | 1.00% | — |
05/03/22 | Cap Goods Ship Nondef Ex Air | — | 0.40% | 0.20% | — |
05/03/22 | JOLTS Job Openings | 11200k | 11549k | 11266k | 11344k |
05/03/22 | Wards Total Vehicle Sales | 14.15m | 14.29m | 13.33m | — |
05/04/22 | MBA Mortgage Applications | — | 2.50% | -8.30% | — |
05/04/22 | ADP Employment Change | 383k | 247k | 455k | 479k |
05/04/22 | Trade Balance | -$107.1b | -$109.8b | -$89.2b | -$89.8b |
05/04/22 | S&P Global US Services PMI | 54.7 | 55.6 | 54.7 | — |
05/04/22 | S&P Global US Composite PMI | 55.1 | 56 | 55.1 | — |
05/04/22 | ISM Services Index | 58.5 | 57.1 | 58.3 | — |
05/04/22 | FOMC Rate Decision (Upper Bound) | 1.00% | 1.00% | 0.50% | — |
05/04/22 | FOMC Rate Decision (Lower Bound) | 0.75% | 0.75% | 0.25% | — |
05/04/22 | Interest on Reserve Balances Rate | 0.90% | 0.90% | 0.40% | — |
05/05/22 | Challenger Job Cuts YoY | — | 6.00% | -30.10% | — |
05/05/22 | Nonfarm Productivity | -5.30% | -7.50% | 6.60% | 6.30% |
05/05/22 | Unit Labor Costs | 10.00% | 11.60% | 0.90% | 1.00% |
05/05/22 | Initial Jobless Claims | 180k | 200k | 180k | 181k |
05/05/22 | Continuing Claims | 1400k | 1384k | 1408k | 1403k |
05/06/22 | Two-Month Payroll Net Revision | — | -39k | — | — |
05/06/22 | Change in Nonfarm Payrolls | 380k | 428k | 431k | 428k |
05/06/22 | Change in Private Payrolls | 390k | 406k | 426k | 424k |
05/06/22 | Change in Manufact. Payrolls | 35k | 55k | 38k | 43k |
05/06/22 | Unemployment Rate | 3.50% | 3.60% | 3.60% | — |
05/06/22 | Average Hourly Earnings MoM | 0.40% | 0.30% | 0.40% | 0.50% |
05/06/22 | Average Hourly Earnings YoY | 5.50% | 5.50% | 5.60% | — |
05/06/22 | Average Weekly Hours All Employees | 34.7 | 34.6 | 34.6 | — |
05/06/22 | Labor Force Participation Rate | 62.50% | 62.20% | 62.40% | — |
05/06/22 | Underemployment Rate | — | 7.00% | 6.90% | — |
05/06/22 | Consumer Credit | $25.000b | — | $41.820b | — |
Subscribe Today!
Subscribe to our email list and get the latest articles and announcements from ALM First.