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This Week: Construction, trade gap, nonfarm payrolls

A look at some of the key business events and economic indicators upcoming this week: EYE ON CONSTRUCTION U.S. construction spending has been muted of late after spiking in February. Spending slipped 0.1% in April amid a decline in home construction. Residential construction spending has fallen for four straight months. At the same time, government construction spending surged to a record high. The Commerce Department serves up its May construction spending data Monday.

Construction spending, monthly percent change, seasonally adjusted: Dec. 0.2 Jan. 0.7 Feb. 1.0 March 0.1 April -0.1 May (est.) 0.2 Source: FactSet STUBBORN DEFICIT The Commerce Department reports its May tally of the nation's trade gap Wednesday.

The gap between the goods and services the U.S. buys and those it sells abroad shrank 2.1% in April to $50.8 billion from the previous month. Even so, the U.S. trade gap with China jumped 29.7% to $26.9 billion as merchandise exports to China fell and imports rose.

Trade balance, monthly, billions of dollars, seasonally adjusted: Dec. -60.8 Jan. -52.7 Feb. -50.0 March -51.9 April -50.8 May (est.) -52.5 Source: FactSet JOBS REBOUND? Economists expect that U.S. hiring rebounded in June after a stumble in May.

Employers added just 75,000 jobs in May, suggesting that businesses have become more cautious in the face of weaker global growth and the Trump administration's trade conflicts. The modest gain followed a much healthier increase in April. The Labor Department issues it June tally of hiring on Friday.

Nonfarm payrolls, monthly change, seasonally adjusted: Jan. 312,000 Feb. 56,000 March 153,000 April 224,000 May 75,000 June (est.) 165,000 Source: FactSet

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