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T minus 1 hour until the jobs report! Prepare the “it’s all BS!”, “Obama made it up!”, “This is crap we’re in a DEPRESSION!” posts!

Consensus estimate +215K, UE3 estimate 6.3% (Source: FactSet)

SocGen’s Brian Jones raised his estimate to +290K: “A variety of factors support our call for the largest payroll gain since the 360,000 leap recorded at the beginning of 2012. The average number of persons filing initial claims for unemployment insurance benefits contracted by 12,100 to 312,000 over the four weeks heading into the June establishment survey period. The total number of persons collecting unemployment insurance benefits under regular state programs likely contracted by 54,000 to 2.57 million between canvassing periods – the fewest since October 2007 – implying that a substantial number of those previously unemployed are finding work. The impressive breadth of hiring across private industries over the March-May span also points to a pick-up in headline payroll growth.”