Daily Note | January 5, 2024 | Jobs 'Hotter' Than Expected. Maybe.

+216K but revisions took out 71K from the past two months. Expectations were for 180K. Average hourly earnings up 0.4% m/m and +4.1% y/y. The unemployment rate held steady at 3.7%. Most of the job gains were government (52k), private education and health (74K), and leisure/hospitality (40K) for a total of 166K of the 216K (h/t Peter Boockvar). Mostly no…