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Update:A huge relief to market and economy watchers: the non-farm payrolls report for July was surprisingly strong.
117K new jobs were created vs. 85K.
Last month was revised higher from +18K to +46K.
The unemployment rate fell to 9.1% from 9.2%
Other internals were strong as well.
Average hourly earnings were up 0.4% vs. 0.2% last month.
You can download the full report here, although at the moment the BLS website is down.
Lots and lots more to come.
Original: We’re just a few minutes away from the HUGE July jobs report.
We did a full preview here.
The significance of this needs no restating.
As for expectations:
- Headline: Analysts expect 85K new jobs vs. just 18K last month.
- Private payrolls: Expectations are for 113K new jobs.
- Manufacturing: Just 10K expected.
- Unemployment rate: 9.2%
- Average hourly earnings: Expected growth of 0.2%
US futures are modestly lower.
Refresh for the latest.