Jobs Lag in July

The U.S. jobs machine, which was supposed to shift into a higher gear in July, continued to sputter instead.

The employment report for the month, released on Aug. 6, showed a rise in nonfarm payrolls of only 32,000 -- well below economists' median forecast of 225,000.

And the weakness in the report was underscored by downward revisions to data for May and June. Overall, the data support the view that job growth for the year peaked from March through May.

More here.