Looking at today's jobs report is inflation coming down or not.

I'm David Bruncaccio.

There's news today, 187,000 more people were on American payrolls in July.

That's solid, but less than expected, and a parallel survey of households was slightly

stronger than expected with the unemployment rate down a tick to 3.5%.

For those looking for signs that inflation is coming down, there's the hiring that's

less than expected.

Those worried that interest rates will go up further because things are still too hot.

There's some fodder for that in this report as well.

Christopher Low is chief economist at FHN Financial in New York.

Average early earnings were up a little more than expected.

In the past year, wage growth 4.4% was expected to drop to 4.2%, so may have interest rate

implications.

Also, the unemployment rate was down.

That's something that in simple terms, the Fed says, a low unemployment rate is the

best indication.

The job market is tight.

Kind of like the wave of nostalgia here looking at this.

This looks like a job report you get on a month before there was ever a pandemic.

I think that's maybe the best news looking at this.

I'll give you just one example, leisure and hospitality, 18,000 jobs added, which is

actually pretty typical of the last five months.

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