9:02 am Employment Growth Disappoints in July
- Nonfarm payrolls added 209,000 jobs in July after adding an upwardly revised 298,000 (from 288,000) in June. The Briefing.com consensus expected 220,000 new jobs in July.
Private payrolls fared worse, adding only 198,000 jobs in July following a 270,000 increase in June. The consensus expected 225,000 new private jobs in July.
Over the past four weeks, the initial claims level dropped to approximately 300,000. That level suggests payroll growth should be in the neighborhood of 300,000 new jobs per month. Obviously, that is not …More