Rolling live coverage of business, economics and financial markets including July’s US jobs report
Earlier:
- Asda boss resigns early after private equity-backed takeover
- Surprise decline in German production amid chip shortage
- Millions of British homes face higher energy bills as cap lifted
- UK house price growth slows to 7.6% annually in July
The US created 943,000 new jobs in July, a stronger performance than expected, suggesting that the economy continues to recover.
The unemployment rate has dropped sharply, to 5.4% from 5.9% in June.
BREAKING: The US economy gained back 943,000 jobs in July, surpassing expectations. It’s the biggest gain since last August.
Unemployment rate: 5.4% (down from 5.9% in June)
**The US has recovered ~75% of jobs lost during the pandemic. 5.7 million still out of work**
Better-than-expected July nonfarm payrolls at +943k vs. +858k est. & +938k in prior month; great revision in June from +850k pic.twitter.com/m95D5lAqjd
We’re approaching the US non-farm payrolls release (1:30pm BST, or 8.30am EDT) – one of the most closely followed data points in global economics because of its role as a bellwether for the US economy.
July’s non-farm payrolls report comes out in about twenty minutes. Gotta say, I don’t think I can remember a period with so many mixed signals and this is a report that could be anywhere from huuuuge (>1m) to merely moderate (<400k). pic.twitter.com/0aRjlvnCCj
High-impact Events #ToWatch#AUD -> RBA Monetary Policy Statement#USD -> NFP (Jul) -> expecting 870K jobs added to economy (up 20K from June)#stocks #equities #forexmarket #forextrading #CFD #USD #EUR #forex #NFP #nonfarmpayroll #payroll #USEconomy #australialockdown pic.twitter.com/vrp6fBrfEZ
NFP Friday Notes:
NFP @business Survey +870K seems reasonable. Any deviation will drive volatility and rumors about Jackson Hole
•Baker Hughes Rigs