Markets Cautious Ahead of Nonfarm Employment
Employment indicators have been mixed this month but virtually all economists believe the labor market improved substantially relative to June, even if job destruction continued at a rapid pace. June saw 467k layoffs, and for July the median forecast from economists is 328k.
Hopefully, this morning’s employment report from Canada is no guide. Unemployment north of the border rose by 44.5K in July â€
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