{"id":435691,"date":"2026-08-07T19:30:24","date_gmt":"2026-08-07T12:30:24","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-july-non-farm-payrolls-23k-vs-80k-expected-435691\/"},"modified":"2026-08-07T19:30:24","modified_gmt":"2026-08-07T12:30:24","slug":"us-july-non-farm-payrolls-23k-vs-80k-expected","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-july-non-farm-payrolls-23k-vs-80k-expected-435691\/","title":{"rendered":"US July non-farm payrolls -23K vs +80K expected"},"content":{"rendered":"<div>\n<ul>\n<li class=\"whitespace-normal break-words pl-2\"><a href=\"https:\/\/investinglive.com\/news\/us-june-non-farm-payrolls-57k-vs-110k-expected-20260702\/\" rel=\"follow\">Prior <\/a>was +57K<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Two-month net revision -103K<\/li>\n<li class=\"whitespace-normal break-words pl-2\">May was +129K<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Unemployment rate 4.1% vs 4.2% expected<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Prior unemployment rate 4.2%<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Unrounded unemployment vs 4.1889%\u00a0prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Participation rate 61.4% vs 61.5% prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">U6 underemployment rate % vs 7.9% prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Average hourly earnings +0.1% m\/m vs +0.3% expected<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Average hourly earnings +3.2% y\/y vs +3.5% expected<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Average weekly hours 34.3 vs 34.3 expected<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Change in private payrolls +30K vs +78K expected<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Change in manufacturing payrolls +30K vs +4K expected<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Government payrolls -53K vs +8K prior<\/li>\n<\/ul>\n<p>Ahead of the data, USD\/JPY was trading at 158.33 and Fed funds futures were pricing in a 57% chance of a rate hike in September.<\/p>\n<p>At first blush, the jobs report isn&#8217;t as bad as the headline. Huge losses in government jobs and the unemployment rate 4.1% vs 4.2% expected. On the downside,<br \/>\n                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prior was +57K Two-month net revision -103K May was +129K Unemployment rate 4.1% vs 4.2% expected Prior unemployment rate 4.2% Unrounded unemployment vs 4.1889%\u00a0prior Participation rate 61.4% vs 61.5% prior U6 underemployment&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-435691","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=435691"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435691\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=435691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=435691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=435691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}