What to Watch: July Employment Situation (Nonfarm Payrolls)
Friday's July Employment Situation report arrives at 8:30 AM ET carrying more weight than a typical payrolls print. The Federal Reserve held rates steady at its July 28-29 meeting at an effective fed funds rate of 3.63%, and its next decision date is September 16-17. This report is the single most consequential data input the committee will see before that meeting. Key Takeaways Consensus expects July nonfarm payrolls of +88K, per investing.com (recorded August 2, 2026), with the unemployment rate holding at 4.2% and average hourly earnings rising +0.3% month-over-month. June's print of +57K came in sharply below the then-consensus of +110K, and the prior two months were revised down a combi…
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