The Federal Reserve's Senior Loan Officer Survey is a quarterly survey of lending terms across a number of categories produced in advance of the first FOMC meeting of each quarter. In other words, the FOMC has the survey results in hand for their meeting. The survey results are then released to the public the Monday after the Fed meeting. With the next FOMC meeting on July 31st/August 1st, the next SLOS results will be released Monday, August 6th.
The main importance of the survey results, as far as employment growth is concerned, is whether business lending is flowing so that companies can expand if desired. Likewise, businesses can smooth out their annual cycles by borrowing to fund inventories and capital expansion without having to cut into cashflow. Easier lending terms leads to more employees hired.
With the historical easy credit terms available to businesses from the Big Banks, one would expect job growth of 200-250k per month. Banks are lending to businesses and job growth follows with a 0-2 quarter lag. While we have not seen the amount of job growth implied by the growth in bank lending to business, the direction of the relationship has held in the aftermath of the last recession.