US: NFP to rise by 900K, unemployment rate seen falling to 5.6% – JP Morgan

In the view of JP Morgan analysts, the headline Nonfarm Payrolls figure is expected to rise by 900,000 in July while the jobless rate is foreseen at 5.6%.

Read: Nonfarm Payrolls Preview: Why the dollar could surge in (almost) any scenario

Key quotes

“Continuing claims have generally been trending lower in both regular state programs and across additional benefits adopted during the pandemic.”

“We continue to look for nonfarm payroll growth of 900K.”

“With the unemployment rate dropping to 5.6%.”