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  • June's Employment Report

    Change in Nonfarm: +80k vs. 100k expected
    Change in Private: +84k vs. +106k expected
    Unemployment Rate: 8.2% vs. 8.2% expected
    Avg hourly earnings:  .3% vs . 2% expected
    Hours worked down to 34.5
    Overall, another bad jobs report.  The US economy only gained 80k new jobs in versus 100k expected.  Unemployment rate remained unchanged at 8.2%.  Unlike last month, there was a bit of good news today as wages actually increased.  Regardless, mortgages are taking off into the stratosphere as Fannie 3.5s have printed a new high at 105-24 immediately after the data was released.  Stocks are poised to open lower, but not quite triple digits lower.

    Jul 6 2012