After yesterday’s surprise ADP jobs report, I was expecting a better June jobs report. But alas, today’s job report was a disappointment. Only 209k jobs were added in June.
![](https://confoundedinterestnet.files.wordpress.com/2023/07/missed.png?w=1024)
On the other hand, average hourly earnings YoY rose slightly to 4.4%. Too bad core inflation at the last reading was 5.3% YoY.
![](https://confoundedinterestnet.files.wordpress.com/2023/07/ahejune23.png?w=736)
Here is the rest of the story:
![](https://confoundedinterestnet.files.wordpress.com/2023/07/junejobs23.gif?w=736)
Silver is up almost 2% this AM!
![](https://confoundedinterestnet.files.wordpress.com/2023/07/glco070723.gif?w=736)
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