Friday’s Employment Situation report from the Bureau of Labor Statistics, due August 7 at 8:30 a.m. ADP’s National Employment Report offered a more cautious read. Slow growth, not no growthTo put June’s +57,000 in context: the US economy needs to add roughly 100,000 jobs per month just to absorb new entrants into the workforce. What a beat or a miss actually meansFor financial markets, the July jobs report carries the usual high-stakes framing. At 4.2%, it sits at a level the Fed has publicly flagged as broadly consistent with a balanced labor market.