July NFP = 162,000

The July jobs report is out. The economy created 162,000 net new jobs last month. That’s below forecasts of 185,000. A total of 161,000 jobs were in the private sector. The revisions for May and June knocked off 26,000 from what was originally reported. The unemployment rate fell to 7.4%.

The market doesn’t seem to be reacting strongly one way or the other. I think traders have reconciled to the fact that tapering of some sort will begin in the fall.

fredgraph08022013

Posted by on August 2nd, 2013 at 8:32 am


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