January Jobs report

#JobsAbove expectations for a change; wage growth strong, labor participation up, Nov & Dec jobs revised upward by ridiculous amounts.

Gain of +467,000 non-farm payroll jobs, vs. expected gain of 150K
Unemployment at 4.0%, up by 0.1 (vs. 3.9 estimate)
U6 unemployment at 7.1%, down by 0.2
Labor force participation 62.2%, up by 0.3
Average hourly earnings up 0.7%, vs. 05 estimate

December jobs revised up by +311K to +510K
November jobs revised up by +398K to +647K