IT'S GOOD: JULY JOBS REPORT BEATS EXPECTATIONS AT 117K

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Photo: gurdonark via Flickr

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.

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