Mixed report, as June payrolls +213k, than..>

US DATA: Mixed report, as June payrolls +213k, higher than the +195k 

expected and April-May net revisions +37k, but the unemp rate +0.2pp to 

4.0% (4.048%) and hourly earnings softer than expected.

- Labor force participation rate 62.9% vs 62.7% in May, explaining some 

of the rise in the unemp rate. The labor force +601k, mostly due to 

+499k for household unemployed after declines in the previous three 

months. Household employed +102k. The U-6 unemp rate also +0.2pp to 7.8%.

- Hourly earnings +0.2% (+0.186%) m/m and +2.7% y/y after unrev +0.3% 

(+2.7% y/y) in May.

- Private jobs +202k vs +189k expected. Within payrolls, there were 

solid gains for manufacturing (+36k), health care (+35k), professional 

and business services (+50k), and leisure (+25k ahead of the summer 

season), but retail payrolls -22k, the glaring weakness.