This morning the labor department released the June payroll numbers. The economy added 132,000 new jobs in June.

They also adjusted the May numbers up to 190,000 new jobs in May.

The unemployment rate is holding steady at 4.5% and hourly wages showed a small increase.

Yesterday, ADP reported 150,000 private sector jobs were added in May.

This is going to cause the 10 year T-Bill to inch up to 5.25% over the next week or so.

Of course, what everyone is worried about is how this will impact the sentiment at the Federal Reserve. When Bernanke speaks later this month everyone will be hanging on every word trying to divine any clues from this language.

I still hold to my guesstimate, no increase before the fourth quarter unless inflation spikes upward.

These employment numbers are a little stronger than expected but consumer confidence doesn’t appear to match the jobs reality.