June Payrolls +195K Much Higher Than Expected (7.6%); Underemployment Rate Soars To 14.3%

Zero Hedge ^ | 07.05.13

[Perdogg]

ping

[SoFloFreeper]

LOL! Just saw the Miami media try and spin this in Obama’s favor!

[musicman]

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[Wyatt's Torch]

Overall a positive report. U6 increasing is commensurate with the uptick in labor force participation rate. I will post some charts when FRED updates the data :-)

[JPG]

Oh, Joy! Bring on the lobsters and champagne in celebration of this glorious victory by our esteemed leadership.

[Perdogg]

Yes, and I should mention the +70,000 net revisions to April and May— James Pethokoukis (@JimPethokoukis) July 5, 2013

[KevinDavis]

I wonder how much of these jobs are part of the hospitality industry???

[Perdogg]

Leisure and hospital ity added 75,000 jobs in June

[Wyatt's Torch]

This report is solidifying the Fed Taper scenario and bonds are plummeting. 10Y UST:

[Wyatt's Torch]

Here is NFP and UE3 since 1980 (chart from FactSet)

[Innovative]

Bureau of Labor Statistics

Only under Obama is 7.6% considered good.

[bereanway]

Employment in most other major industries, including mining and logging, construction, manufacturing, and transportation and warehousing, showed little change in June.*********

That’s the problem with this report. Disposable incomes based on the first quarters numbers and since are falling at about 9% per year. That’s horrendous.

The average workweek is contracting and and there are no jobs in heavy industry which are the jobs that pay. Welcome to the fast food recovery.

[Wyatt's Torch]

@JimPethokoukis - But using Goldman Sachs estimates that subtract demographics, 9.1% rate is more in the ballpark

[Innovative]

Try this link for BLS:

http://www.bls.gov/data/

[KevinDavis]

Well I’m in IT and there are jobs in the IT field..

[RugerMini14]

from a different article:

Many of the new jobs were part time. The number of Americans who said they were working part-time but would prefer full-time work jumped 322,000 to 8.2 million. That's the most in eight months.

And you wonder why Obama just threw Obamacare under the bus?

[PLMerite]

Isn’t 200,000 considered the break-even point?

[Red Badger]

Do you live in India?.............

[KevinDavis]

Nope.. I live in Illinois.. It depends on the skills that you have.. I seem to have the right skills.