Markets are looking ahead to a series of labor market reports this holiday-shortened week, starting with the Job Openings and Labor Turnover Survey for May on Tuesday. The JOLTS report is expected to show 7.7 million job openings, up slightly from 7.6 million in April. On Wednesday, ADP private-sector payrolls for June are forecast to come in at 110,000, down from 122,000 in May but still marking a third straight month above 100,000. Thursday brings weekly jobless claims and the BLS non-farm payrolls report for June, with headline payrolls expected to fall to 118,000 from 172,000 and the unemployment rate projected to hold steady at 4.3%. Wages are anticipated to rise 0.3% month over month and 3.5% year over year.
Automatic Data Processing IncADP's private payrolls report is mentioned as a key data point, but the article only forecasts a decline; no direct impact on ADP's business.