The June Non-farm Payroll number of 80,000 comes below expectations of
100,000. Private payrolls miss even worse, at 84,000 below consensus of 106,000.
Unemployment rate prints at 8.2%, inline with expectations. U-6, or broad
unemployment rose from 14.8% to 14.9%. Worst is that the number is not
bad enough for more NEW QE immediately.
Those not in the labor force rose by 34,000 to 87,992, the second highest ever, although good enough to keep the participation rate unchanged at 63.8%, and above the recent April low of 63.6%.
Those not in the labor force rose by 34,000 to 87,992, the second highest ever, although good enough to keep the participation rate unchanged at 63.8%, and above the recent April low of 63.6%.
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