The Jobs Report Is Already A Disaster!!! June Payrolls Much Higher Than Expected; Underemployment Rate Soars To 14.3%; Gold Is Getting Shredded!!! U.S. 10 Year Yield Skyrocketing!!!

So much for any doubts about a September taper: with the street expecting a 165K NFP number for June, the actual print of 195K following an upward revised May print of 195K as well, means the Fed’s September flow fade, aka Taper, is now virtually assured. On the other side, the Household Survey printed a 160K increase in jobs. The Unemployment Rate stayed at 7.6% despite expectations of a drop to 7.5%, although the real action was in the underemployment rate which exploded from 13.8% to 14.3%.
The Civilian Labor Force rose once again, printing at 63.5% with the labor force rising from 155,658
to 155,835.


The U-6, aka the Underemployment Rate, is not doing too hot:

http://www.zerohedge.com/news/2013-07-05/june-payrolls-195k-much-higher-expected-underemployment-rate-soars-143
U.S. Creates 195,000 Jobs in June vs. 165K Est.; Unemployment Rate 7.6% vs. 7.5% Est.
U.S. job growth accelerated in June, though probably not at a pace fast enough to encourage the Federal Reserve to pull back on its monetary easing policy.
Unemployment steadied at 7.6 percent for the month, as nonfarm payrolls grew by 195,000, according to a closely watched Labor Department report Friday.
http://www.cnbc.com/id/100866027

USGG10YR:IND

2.71
http://www.bloomberg.com/quote/USGG10YR:IND
The rise continues…
STOCKS JUMP, GOLD TUMBLES, INTEREST RATES RISE AFTER JOBS REPORT
Read more: http://www.businessinsider.com/markets-move-after-jobs-report-2013-7#ixzz2YAvOwPY7

Actually, We’ll Get The June Jobs Numbers In Around 5 Years

Skeptics love to make fun of how seriously the world takes the BLS’s monthly jobs report.

Sure, it’s arguably the most important measure of economic health.
However, it’s also one of the more inaccurate stats we get.
“The monthly nonfarm payroll figures are revised at least seven times,” said Deutsche Bank economist Joe LaVorgna in a note to clients last month. “It happens twice in the two months immediately following the initial release and then once every year during the annual benchmark revision, which extends back five years. This means the final results often look very different from what was initially reported.”
Read more: http://www.businessinsider.com/june-jobs-report-seasonal-adjustments-2013-7#ixzz2YAxFyk9Z
The Currency Wars Reignite
http://www.zerohedge.com/news/2013-07-05/currency-wars-reignite
zerohedge‏@zerohedge7 min
Oops 10Y
zerohedge‏@zerohedge14 min
June Payrolls +195K Much Higher Than Expected; Underemployment Rate Soars To 14.3%
zerohedge‏@zerohedge19 min
June payrolls: 195K, Exp. 165K. Taper
The Market’s Schizophrenic Reaction To Payrolls
Stocks jump…


but everything else cracks in a distinctly Taper-Off mode…

http://www.zerohedge.com/news/2013-07-05/markets-schizophrenic-reaction-payrolls
THE SCARIEST JOBS CHART EVER
http://www.businessinsider.com/scariest-jobs-chart-ever-2013-7