Trump Was Right: "Big" Payroll Number Smashes Expectations As 1.76 Million Jobs Added Tyler Durden Fri, 08/07/2020 - 08:39 With analyst and trader expectations about today's payrolls report fluctuating wildly, with some expecting a sizable drop after this week's disappointing ADP report and ISM employment components not to mention rolling over high frequency date... ... while others hoping the recent trend of payrolls increases continues after president Trump tried to stoke optimism saying to expect a "big number", moments ago the BLS reported that in the end the good news won out with the US economy adding 1.763MM, which while above the 1.48 million estimate was still well below June's record 4.8MM surge. And with more people returning to work, especially lower paid workers, the average hourly earnings declined once again, shrinking to 4.8% Y/Y from 4.9% last month, if well above the 4.2% expectation. The unemployment rate also continued to slide, and from 11.1% last month it declined to just 10.2% in July, well below the 10.6% expected. Developing.