Quote of note:

Analysts were expecting the economy to add anywhere from 215,000 to 247,000 jobs in July. They were predicting the jobless rate to hold steady at 5.6 percent.

U.S. Employment Growth Surprisingly Weak in July
By THE ASSOCIATED PRESS

Published: August 6, 2004

WASHINGTON (AP) --The nation's payroll growth slowed dramatically in July with a paltry 32,000 jobs being added-- a potentially troubling sign that the rough patch the economy hit in June was no aberration.

The unemployment rate, however, dipped down a notch to 5.5 percent last month, from 5.6 percent in June, the Labor Department reported Friday. The new jobless rate was the lowest since October 2001.