There were at least some hints that boosted optimism in advance of this morning’s jobs report from the Bureau of Labor Statistics. Just yesterday, the ADP payroll data exceeded expectations, and we saw an encouraging dip in jobless claims. Economists projected job gains in June of about 100,000, and that looked like a reasonable, if modest, expectation.
We didn’t get there. For the third consecutive month, job totals were disappointing, with the U.S. economy creating only 80,000 jobs in June. The unemployment stayed the same, stuck at 8.2%.
As is nearly always the case, there was a g ...
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