US NFP: Job growth to soften to 200K in Friday’s report – JP Morgan

Economists at JP Morgan predict the US Nonfarm Payrolls to come in weaker at 200K in July’s labor market report, due to be published at 1230 GMT on Friday.

Key quotes

The labor market “appears to be softening on the margin."

“We expect US job growth to soften to 200K in Friday’s report and maintain our marker that a sustained rise in initial claims to 275K or higher would signal a US recession is underway.”