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The December Employment Situation Report has been released. 85,000 jobs were lost in December, much worse than expected. The unemployment rate was unchanged at 10.0%. The November report was revised to +4,000 jobs created vs. the original print of -11,000 jobs lost....

One day ahead of the all-important Nonfarm Payrolls report for May, the focus is on speeches from Federal Reserve officials, overseas policy, and Treasury auctions. The weekly Jobless Claims report for the final week of May is expected to show 620,000 new filings for unemployment benefits. It’s safe to say an outlier figure will be considered a blip due to the four-day week from Memorial Day. Continuing Claims have have been setting record highs one week after the next and this report is unlikely...

The Canadian and U.S. employment reports for August followed by the Canadian Ivey PMI will be today's main highlights for North America. In the afternoon, markets will also hear from San Francisco Fed President Janet Yellen (non-voter). At 7 a.m. EDT, Statistics Canada will release its employment report for August. The consensus expects a build of 10.0k jobs, reversing the previous month's 55.2k decline. The unemployment rate is expected to rise to 6.2% from 6.1% in July. At 8:30 a.m. EDT...

U.S. nonfarm payrolls declined for the seventh straight month, falling less than expectations by a total of 51k jobs in July, according to the Bureau of Labor Statistics on Friday. June's decline was revised to a loss of 51k jobs from an initially reported loss of 62k jobs.

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Following the release of the ADP private employment report on Wednesday, which posted a gain of 9k jobs in July, economists dismissed the figures as overly optimistic and predicted they won't be reflected in the BLS nonfarm payrolls survey on Friday.

Speaking on CNBC, Joel Prakken, chairman of Macroeconomic Advisors and spokesperson for the report, characterized the figures as a "weak report," while the report emphasized...

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Economists appear to be unanimous in their calls for increased downside risk to Thursday's BLS nonfarm payrolls report, following a weaker-than-expected ADP private employment report for June. ADP figures showed a decline of 79k jobs in the month against expectations of only a 20k loss following three months of upside surprises.

"Expect a weak official report tomorrow," added Ian Shepherdson, chief U.S. economist at HFE, who called the previous month's 15k downward revision "grim."

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