What to Watch: July Nonfarm Payrolls, the Number That Moves September
Friday's July employment report will be the most consequential data print before the Federal Reserve's September 16-17 meeting, and the bar consensus has set is already low. Economists surveyed by Investing.com put July nonfarm payrolls at +88K, the unemployment rate at 4.2%, and average hourly earnings at +0.3% month-over-month. That 88K reflects a labor market analysts already view as softening, but the range of plausible outcomes is wide enough that Friday will genuinely move the September rate-cut calculus. Key Takeaways July NFP consensus sits at +88K (Investing.com, recorded August 2), already below the 110K that June missed by more than 50K. The BLS releases the Employment Situation a…
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