U.S. payrolls increased by 372,000 in June, beating the consensus forecast of 268,000 and signaling the labor market is yet to cool. The unemployment rate was unchanged at 3.6%, while the labor force participation ticked down slightly. Yields across the U.S. curve surged on release of the data, and the odds of a 75 basis point rate hike at the July 26-27 Federal Open Market Committee Meeting increased. Jared Dillian, editor of The Daily Dirtnap, and Steven Van Metre, the founder of Steven Van Metre Financial, talk about what the U.S. labor market says about the broader economy and how the Federal Reserve is likely to respond during this Jobs Friday edition of Real Vision Live.