Wages Fell in July as Hiring Slowed in Uneven U.S. Job Market – Bloomberg 08-02-13

Salient to Investors:

Gennadiy Goldberg at TD Securities said the labor market is losing momentum, earnings were disappointing, and consumers need to see wage growth to accelerate their spending.

Retailers and restaurants accounted for 53 percent of all net new hires in July.

Joan Entmacher at the National Women’s Law Center said women are gaining a lot of jobs, but in low-wage occupations.

Julia Coronado at BNP Paribas said the US is vulnerable to slower economic growth and the unwelcome jobs report keeps the Fed cautious.

Ward’s Automotive said cars and light trucks had the strongest back-to-back monthly sales in June and July since late 2007.

William O’Donnell at RBS Securities said another weaker-than-expected employment number in September might delay Fed tapering.

Read the full article at  http://www.bloomberg.com/news/2013-08-03/wages-fell-in-july-as-hiring-slowed-in-uneven-u-s-job-market.html

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