SmartMarketData LLC is forecasting net new jobs of 233k for July in tomorrow's release of the Bureau of Labor Statistics Non-Farm Payrolls. The Bloomberg economist consensus low estimate is 144k, with a consensus mean of 178k, and a high of 220k. SMD also forecasts the unemployment rate will drop to 4.3%.
Based on the LinkUp® Jobs Data Set of over 30,000 companies' job postings, SMD has developed a unique and proprietary real-time look at the true job picture. The LinkUp® job data has over 10 years of history , currently capturing greater than 4 million jobs per day from over 16,000 active companies world wide.
July showed a decline in active job posts, as well as filled job posts month to month, but benefited from a large increase in new posts in May.
We also note that the job post duration (our proxy for labor market demand) stayed relatively flat at 82 days.
