Hired or Fired: U.S. Jobs Report

The U.S. jobs report dominates the U.S. economic calendar on Friday.

The Labor Department's nonfarm payrolls report, the most closely watched data point of any month, will be released at 8:30 a.m. ET.

The U.S. economy is forecast to have added 177,000 jobs in June, according to economists surveyed by FactSet, up from about 138,000 jobs added in May. The unemployment rate is expected to hold at 4.3%, while hourly earnings are anticipated to have risen 2.6% year over year.

"At this stage of the cycle we expect gains above 200k to be fewer and far between, though upside surprises cannot be excluded," TD Securities analysts wrote in a note.

"June is one such month where upside risks could materialize on the back of both robust hard data and surveys," TD said. "Jobless claims have stabilized near record lows, household sentiment (e.g., Conference Board) has stayed robust, and business survey indicators (regional Fed indexes and ISMs) have also maintained recent strength."

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