A look at some of the key business events and economic indicators upcoming this week:
HELP WANTED
The number of job openings is rising as more businesses that closed due to the pandemic reopen.
U.S. employers advertised a record 9.3 million jobs in April. Hotels and restaurants, reopening after being forced to close or curb hours during the pandemic, have been among the biggest advertisers of job openings, though in many cases employers are posting jobs faster than they can fill them. The Labor Department issues its May tally of U.S. job openings Wednesday.
Job openings, by month:
Dec. 6,752,000
Jan. 7,099,000
Feb. 7,526,000
March 8,288,000
April 9,286,000
May (est.) 9,255,000
Source: FactSet
JUST CHARGE IT
The Federal Reserve delivers its latest snapshot of U.S. consumer borrowing Thursday.
The tally, which excludes mortgages and other loans secured by real estate, is expected to show consumer borrowing rose by $19 billion in May, up from April’s $18.6 billion increase That gain in April pushed total consumer credit to $4.24 trillion. Consumer borrowing is watched closely for signals about households’ willingness to borrow to finance their spending.
Consumer credit, monthly change, seasonally adjusted, billions of dollars:
Dec. 11.4
Jan. -5.7
Feb. 18.2
March 18.6
April 18.6
May (est.) 19.0
Source: FactSet
ECONOMIC BAROMETER
The Commerce Department serves up its monthly snapshot of U.S. wholesale business inventories Friday.
Wholesale companies boosted their stockpiles in April by 1%, the ninth consecutive monthly increase. Economists predict inventories held by wholesalers increased 1.1% in May. Wholesale businesses have been rebuilding their stockpiles in order to meet a surge in demand for goods as the economy shakes off pandemic-related restrictions.
Wholesale inventories, monthly percent change, seasonally adjusted:
Dec. 0.3
Jan. 1.4
Feb. 1.0
March 1.2
April 1.0
May (est.) 1.1
Source: FactSet