June 4th, 2010 9:14 AM by BILL WILBANKS
A majority of pundits expected the employment report to see employment numbers for May increase to 513,000. The answer is . . . 431,000 and of that 411,000 were Census jobs that are history in a couple months.
So around 20,000 is the low "Private Sector" jobs added-in (divided by 50 states, divided by the number of counties in those states, minus the number of industries no longer there and carry the 3 for the number of times you've had to re-school up for the available jobs you weren't trained for before) .
The 10 year treasury is now trading off an earlier 3.37% pre-opening to touching 3.26% after the report. May's unemployment level goes to 9.7% from the forecast 9.8% and earlier 9.9% for the month of April. Hungary jitters in Europe as to whether it's ready to default. Let's see what if anything the lender rates do in the next 45 minutes.