US: Preview of US July unemployment report

The US labor market remains weak, but the pace of jobs destruction appears to be slowing. US July unemployment and nonfarm payrolls (nfp) will be released on Friday August 7th. The July unemployment report is expected to show that the pace of US job losses is slowing as the recession is nearing an end. June nfp rose 102k to 467k, the trade had expected a reading of 365k. Seasonal factors contributed to the bigger than expected decline in the June nfp and may contribute a smaller npf rise in