TREASURIES-U.S. yields flat after job growth slows less than expected

NEW YORK, Aug 7 (Reuters) - Treasury yields were roughly flat on Friday morning after the Labor Department reported that U.S. jobs growth slowed sharply, but less than expected in July.

Longer-dated yields initially rose after the July employment report showed the headline payrolls figures beat economists' expectations. But that move was quickly retraced, leaving the benchmark yield last down half a basis point at 0.531%. The two-year yield was flat at 0.117%.

(Reporting by Kate Duguid Editing by Chris Reese)