Is the June US Jobs Report Hiding The True State of the Economy?

The US jobs report came out today higher than expectations. US Nonfarm Payrolls were 100K above the median consensus expectation, at 372K vs the median consensus of 268K. But the Household Survey said that jobs fell in June. Also the Labor Participation Rate fell from May to June.
If the US Nonfarm Payroll report is accurate the the economy is not heading into a recession and the Fed may have to raise interest rates by 75% in July.
If the Household Survey and Labor Participation Rate is correct, then we may already be in a recession especially if you look at the huge drop in credit card spending in June.

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