This Week: Fed minutes, Levi Strauss earns, jobs report
Jul 3, 2022, 10:00 PM | Updated: 10:03 pm
A look at some of the key business events and economic indicators upcoming this week:
CLOSE-UP ON THE FED
The Federal Reserve serves up the minutes from its most recent interest rate policy meeting Wednesday.
At the meeting last month, the central bank intensified its fight against high inflation, raising its key interest rate by three-quarters of a point, the largest hike since 1994. The Fed also signaled more rate increases ahead as it tries to cool off the U.S. economy without causing a recession.
MIXED RESULTS?
Levi Strauss & Co. delivers its latest quarterly report card Thursday.
Analysts predict the jeans maker’s fiscal second-quarter earnings were unchanged from a year earlier, even as revenue increased. The company posted improved earnings and revenue for the first quarter ended in February. Levi Strauss has benefited from growth in its direct-to-consumer and e-commerce businesses, though it has had to grapple with supply chain constraints.
ALL ABOUT JOBS
The Labor Department issues its monthly tally of hiring by nonfarm employers Friday.
Economists predict employers added about 263,000 jobs last month. That would be down from the 390,000 jobs added in May, which helped keep the unemployment rate at 3.6%, just above the lowest level in a half-century. The economy’s hiring gains have been strikingly consistent in the face of the worst inflation in four decades and sharply rising interest rates.
Nonfarm payrolls, monthly change, seasonally adjusted:
Jan. 504,000
Feb. 714,000
March 398,000
April 436,000
May 390,000
June (est.) 263,000
Source: FactSet
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