Ian Shepherdson of High Frequency Economics says with a worse-than-expected headline (-240k vs MNI median -200k) in non-farm payrolls and a "huge" net revision to prior months of -179k, the jobs picture "is even worse than it seems at first." The unemployment rate, which rose from 6.1% to 6.5% "is likely to break the 7% mark early next year," he says. Shepherdson says the report is "horrible in every way."