July's Job report released by the US Labor Department showed that Nonfarm Payrolls during July fell by 131 thousand during the month which is worse than the forecasted fall of 65 thousand. Nonfarm Payrolls continued June's revised fall of 221 thousand.
Private Payrolls increased by 71 thousand following the previos increase of 83 thousand yet it is lower than the expected rise of 90 thousand. Manufacturing payrolls also increased by36 thousand following the previous increase of 9 thousand and it is way much better than the expected rise of 13 thousand.
Unemployment rate remained unchanged at 9.5% while markets expected unemployment to rise reaching 9.6%.