July Nonfarm Payrolls rose a much less-than-expected 32,000 and the June figure was revised down to 78,000 from 112,000. The consensus was about 240,000, and Goldman Sachs forecast 300,000. Manufacturing payrolls rose 10,000, and services-producing payrolls rose 14,000. The unemployment rate remained unchanged at 5.6%.
The data suggests the economy is not recovering from the June slump. Although oil futures off bit, prices are still extremely high and will put a cloud over the global economy if they persist at high levels.