"Total nonfarm payroll employment rose by 117,000 in July, and the unemployment rate was little changed at 9.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, retail trade, manufacturing, and mining. Government employment continued to trend down."
|1-Month Net Change in Nonfarm Payrolls Since 2001 (BLS)|
"We are experiencing a severe cash crisis and are unable to continue to maintain the aggressive prepayment schedule," Joseph Corbett, the agency's chief financial officer, said in a statement.
"Without changes in the law, the Postal Service will be unable to make the $5.5 billion mandated prepayment due in September."
And European news (EUR/USD is up 1.28% at 1.42751):
"The big news today is that the ECB will buy Spanish and Italian bonds. Italy is also announcing a balanced budget amendment. The comedy of errors continues." (Pragmatic Capitalism)
"Explaining How The Just Announced ECB Market Rescue Pledged 133% Of German GDP To Cover All Of Europe's Bad Debt" (Zero Hedge)