March 3 – March 7, 2025
Economic Data Highlights
On Thursday (Mar 6th), the initial jobless claims for last week will be published, Initial jobless claims in the United States increased significantly by 22,000 in the third week of February, reaching a total of 242,000. This represents the largest increase in two months and substantially exceeds market expectations of 221,000. It should be noted that Federal government employees terminated by the recently established Department of Government Efficiency (DOGE) are not reflected in these state claims figures, as their claims are processed separately through the Unemployment Compensation for Federal Employees (UCFE) program, which recorded 614 initial claims during this period. For the upcoming week, market analysts are projecting a figure of approximately 234,000.
On Friday (Mar. 7th), the U.S Bureau of Labor Statistics (BLS) releases the change in non-farm payrolls for February. In January 2025, the US economy added 143,000 jobs, significantly below the revised 307,000 gain in December and falling short of forecasts of 170,000. The Bureau of Labor Statistics (BLS) reported that wildfires in Los Angeles and severe winter weather across other parts of the country had "no discernible effect" on employment figures for the month. Looking ahead to this week's release, market analysts anticipate the economy will add approximately 160,000 jobs. The unemployment rate is expected to remain unchanged at 4%.
Economic Calendar
| Date | Country | Event | Period |
|---|---|---|---|
| 3/3/2025 | 3/3/2025 | HCOB Eurozone Manufacturing PMI | Feb F |
| 3/3/2025 | United Kingdom | S&P Global UK Manufacturing PMI | Feb F |
| 3/3/2025 | Eurozone | CPI | Feb P |
| 3/3/2025 | Canada | S&P Global Canada Manufacturing PMI | Feb |
| 3/3/2025 | United States | S&P Global US Manufacturing PMI | Feb F |
| 3/3/2025 | Mexico | S&P Global Mexico Manufacturing PMI | Feb |
| 3/3/2025 | Mexico | Remittances Total | Jan |
| 3/3/2025 | United States | ISM Manufacturing | Feb |
| 3/3/2025 | Japan | Jobless Rate | Jan |
| 3/3/2025 | Australia | RBA Minutes of Feb. Policy Meeting | |
| 3/3/2025 | United States | Wards Total Vehicle Sales | Feb |
| 3/4/2025 | Japan | Consumer Confidence Index | Feb |
| 3/4/2025 | United States | Fed's Williams speaks | |
| 3/4/2025 | Eurozone | Unemployment Rate | Jan |
| 3/4/2025 | Mexico | Vehicle Domestic Sales | Feb |
| 3/4/2025 | Australia | GDP | 4Q |
| 3/4/2025 | Japan | Jibun Bank Japan PMI Composite | Feb F |
| 3/4/2025 | Japan | Jibun Bank Japan PMI Services | Feb F |
| 3/4/2025 | China | Caixin China PMI Composite | Feb |
| 3/4/2025 | China | Caixin China PMI Services | Feb |
| 3/5/2025 | United Kingdom | New Car Registrations YoY | Feb |
| 3/5/2025 | Eurozone | HCOB Eurozone Services PMI | Feb F |
| 3/5/2025 | Eurozone | HCOB Eurozone Composite PMI | Feb F |
| 3/5/2025 | United Kingdom | S&P Global UK PMI | Feb F |
| 3/5/2025 | Eurozone | PPI | Jan |
| 3/5/2025 | Mexico | Gross Fixed Investment | Dec |
| 3/5/2025 | Canada | S&P Global Canada Services PMI | Feb F |
| 3/5/2025 | United States | S&P Global US Services PMI | Feb F |
| 3/5/2025 | United States | S&P Global US Composite PMI | Feb F |
| 3/6/2025 | Eurozone | Retail Sales | Jan |
| 3/6/2025 | United States | Fed's Waller speaks | |
| 3/6/2025 | Eurozone | ECB Deposit Facility Rate | 6-Mar |
| 3/6/2025 | Eurozone | ECB Main Refinancing Rate | 6-Mar |
| 3/6/2025 | Eurozone | ECB Marginal Lending Facility | 6-Mar |
| 3/6/2025 | United States | Trade Balance | Jan |
| 3/6/2025 | United States | Nonfarm Productivity | 4Q F |
| 3/6/2025 | United States | Unit Labor Costs | 4Q F |
| 3/6/2025 | Canada | Int'l Merchandise Trade | Jan |
| 3/6/2025 | United States | Initial Jobless Claims | 1-Mar |
| 3/6/2025 | Canada | Ivey Purchasing Managers Index SA | Feb |
| 3/7/2025 | Eurozone | GDP | 4Q F |
| 3/7/2025 | United States | Fed's Powell speaks on Economic Outlook | |
| 3/7/2025 | Eurozone | Govt Expend | 4Q |
| 3/7/2025 | Eurozone | Employment | 4Q F |
| 3/7/2025 | Mexico | CPI | Feb |
| 3/7/2025 | Canada | Unemployment Rate | Feb |
| 3/7/2025 | United States | Change in Nonfarm Payrolls | Feb |
| 3/7/2025 | Canada | Full Time Employment Change | Feb |
| 3/7/2025 | United States | Change in Manufact. Payrolls | Feb |
| 3/7/2025 | United States | Unemployment Rate | Feb |
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This is not a complete analysis of every material fact regarding any company, industry or security. The information and materials herein have been obtained from sources we consider to be reliable, but Comerica Capital Markets does not warrant, or guarantee, its completeness or accuracy. Materials prepared by Comerica Capital Markets personnel are based on public information. Facts and views presented in this material have not been reviewed by, and may not reflect information known to, professionals in other business areas of Comerica Capital Markets, including investment banking personnel.
The views expressed are those of the author at the time of writing and are subject to change without notice. We do not assume any liability for losses that may result from the reliance by any person upon any such information or opinions. This material has been distributed for general educational/informational purposes only and should not be considered as investment advice or a recommendation for any particular security, strategy or investment product, or as personalized investment advice.
