Loading ...this number is also padded. with 10K to. 20K or more jobs…economist. on FOX said this allows the FED to cut in September–also said the bond mkt is telling the FED to cut..
Liesman on cnbs unhappy with. the report…said 30K gov. jobs….didn’t like big downward revisions to last month…says retail is very negative….
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FROM ZH=The not so pleasant news: substantial downward revisions, to wit: the change in total nonfarm payroll employment for May was revised down by 10,000 from +72,000 to +62,000, and the change for June was revised down by 31,000 from +224,000 to +193,000. With these revisions, employment gains in May and June combined were 41,000 less than previously reported.
Offsetting the slightly weaker headline payrolls – largely due to downward revisions – was the average hourly earnings which came in hotter than expected, as the monthly increase came in at 0.3%, above the 0.2% expected, while the annual increase of 3.3% was also above the 3.2% expected, and once again approaching the cycle highs.