Nonfarm payrolls were projected to increase by 83,000 in July while the unemployment rate held steady at 4.2%, according to the Dow Jones consensus.

Nonfarm payrolls are expected to post a gain of just 83,000 with an unchanged unemployment rate at 4.2%.

U.S. employers cut 23,000 jobs in July, and job gains for the two previous months were weaker than initially reported, according to a report Friday from the Labor Department.