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

Read more at http://investmentwatchblog.com/june-payrolls-much-higher-than-expected-underemployment-rate-soars-to-14-3-u-s-10-year-yield-skyrocketing/#2HBeqjPjtwmyrSCi.99