July Numbers Disappoint

The Sacramento Bee reports that "Workers' comp savings not yet felt."

The big news of the day is the latest jobs report showing anemic job growth in July, and revising June and May numbers down as well, the NY Times reports. Only 32,000 jobs were added in July according to the benchmark household survey. 150,000 jobs are required monthly to keep up with population growth. This result reflects about 15% of the results economists were expecting. Read the economists reactions in the WSJ (sub. req'd) [N.B. the more sanguine analysts argue that the actual number of jobs gained was higher, more like half-way in between the Establishment and Household data, but the Household survey continues to be the benchmark.—Ed]