Headline nonfarm payrolls are set to have risen by +178k, slightly lower than June's +206k pace, aligning with a 3-month average of +177k, the lowest since early 2021.
Job creation pace remains below the 'breakeven' level of +250k, with estimates ranging from +70k to +225k, indicating a slower than needed employment growth.
Risks to the NFP consensus lean towards the downside, influenced by Hurricane Beryl's impact on employment, though initial jobless claims remained stable.
NFIB hiring intentions survey suggests potential downside risks for payrolls, historically accurate in predicting private payroll growth.
#us-jobs-report #job-market-conditions #federal-reserve-decision #employment-growth #economic-indicators
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