Ok, now this one I can't understand....
Employment in the U.S. nonfarm private business sector increased by 176,000 from May to June, on a seasonally adjusted basis. The estimated gain from April to May was revised up slightly, from the initial estimate of 133,000 to a revised estimate of 136,000.
Employment in the private, service-providing sector rose 160,000 in June, after rising a revised 137,000 in May. Employment in the private, goods-producing sector added 16,000 jobs in June.
Manufacturing employment added 4,000, reversing May’s decline.
Eh..... Really?
Most of the gain was in medium and small firms -- all but 11,000.
In the week ending June 30, the advance figure for seasonally adjusted initial claims was 374,000, a decrease of 14,000 from the previous week's revised figure of 388,000. The 4-week moving average was 385,750, a decrease of 1,500 from the previous week's revised average of 387,250.
Now that is a large drop!
The big report, on the other hand, was net -20.4k, with a drop in extended benefit programs partially offset by a gain in regular claims of 13,164. This is a June 16th number, and thus will go into the report for tomorrow.
It's very tempting to drag tomorrow's numbers higher, especially with the ADP report. But I just can't get there from here given the numbers in the big table, total unemployed being 5.8 million (and that just being those who are collecting benefits!) and badly-deteriorating regional numbers such as the Philly and Richmond Fed indices. While none of the regional indices have tipped into outright employment contraction as of yet, hours worked are another matter, and that typically precedes outright employment contraction.
I will maintain my +100k +/- 50k guess for tomorrow.
The frustration I see in his postings is getting bad...... I do not care if the country collapses anymore. It's not my country anyway. My country died a long time ago and noone noticed..... 
