December Jobs Report

#Jobs — Below expectations again; both measures of UE down again; upward revisions of past months again.

Gain of +199,000 non-farm payroll jobs, vs. expected gain of 422K.
Unemployment at 3.9%, down by 0.3 (vs. 4.1 estimate)
U6 unemployment at 7.3%, down by 0.5
Labor force participation 61.9%, up by 0.1
Average hourly earnings up 0.6%

October jobs revised up by +102K to +648K
November jobs revised up by +39K to +249K