Expected June payrolls down by almost 50,000

Companies in the U.S. expanded payrolls by 13,000 in June, according to figures from ADP Employer Services. The ADP figures were forecast to show a gain of 60,000 jobs, according to the median estimate of 36 economists surveyed by Bloomberg. Projections ranged from 23,000 to 100,000.

ZeroHedge says "the number was so bad it even has Goldman's Jan Hatzius scratching his head. As the firm has lately been horrendous in predicting the NFP, we anticipate that Goldman will likely downward revise its +150,000 gains in payrolls ex-census over the next 48 hours."