New Wave of Layoffs Suggests Jobs Report May Disappoint

From cnbc.com

Traders increasingly believe Friday's July jobs report will come as a disappointment, after a string of very weak economic reports and a recent wave of corporate layoffs. Economists expect about 85,000 non farm payrolls and a 9.2 percent unemployment rate, when the monthly employment report is released Friday. But some traders see that number as too high, and there are whispers the number could be flat. RBS economist Michelle Girard said she expects 75,000 jobs were added, but she concedes that number could be too high. Just 18,000 non farm payrolls were added in June, and 25,000 were added in ... (full story)