06 August 2010 at 15:16 GMT
The US economy is not in an optimal state currently and the recovery is stagnating as many of the temporary fixes fade. Considering that we are a year into recovery (or so we are told) the report is of course horrible. Numbers like the 9.5% unemployment rate or the fact that 7.7 million payrolls are still missing compared the peak in December 2007 tell the story. Overall, the report definitely does not change our view of a US economy that is headed into troubled waters in the second half of the year.
Download the review of July's report