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US June Employment Report to drop from May?

The US Employment Report for June is releasing today, featuring the nonfarm payrolls and the unemployment rate. The previous report, for May, was particularly strong, employment growth accelerated in May. That report destroyed speculations that the Fed was not going to hike until 2016 and brought a September rate hike back on the table. 

The consensus expectation for the nonfarm payrolls is 233K. However, that survey was taken largely before the better-than-expected ADP and ISM data. 

Rabo bank suggests 240K assuming that today's employment sub-index of the ISM for the services sector remains unchanged

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