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Signs Are Pointing to a Far Less Rosy U.S. Jobs Report for July

  • Virus surge has spurred renewed layoffs and affected hiring
  • If July shows solid gain, dropoff could come in August data
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U.S. Jobless Claims Decline to Lowest Level of Pandemic
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After a surge in coronavirus cases across the U.S., all signs point to a slowdown in job gains last month -- or worse.

Friday’s employment report is forecast to show a 1.48 million increase in nonfarm payrolls in July, the median estimate in projections ranging from a 600,000 decline to a gain of 3.2 million. That’s following a combined rise of 7.5 million in May and June, which just started to make up the 22 million drop over the first two months of the pandemic.