FXstreet.com (San Francisco) - The United States will release its July employment report tomorrow Friday at 12:30 GMT and market consensus is between 97K and 100k. If market is right, it would be the higher figure since 154K increase in March. But Miller Tabak expects a lower increase in July, below consensus.
"We expect to continue seeing weak employment numbers for the time being at least, as domestic demand remains soft and shows little sign of turning," comments Andrew Wilkinson, Chief Economic Strategist at Miller Tabal. "In that context we expect to see a reading of less than the 100,000 consensus for nonfarm payrolls for July."
"The signs from the manufacturing sector bode badly for the labor market and despite a rebound in confidence amongst consumers," adds Wilkinson, "they feel less reassured about job prospects."
"We expect to continue seeing weak employment numbers for the time being at least, as domestic demand remains soft and shows little sign of turning," comments Andrew Wilkinson, Chief Economic Strategist at Miller Tabal. "In that context we expect to see a reading of less than the 100,000 consensus for nonfarm payrolls for July."
"The signs from the manufacturing sector bode badly for the labor market and despite a rebound in confidence amongst consumers," adds Wilkinson, "they feel less reassured about job prospects."
