MARKET DAILY

Market 01/05: Jobs report contradicts household survey

Income growth remains high. ISM services weaken. Red Sea tensions escalate. Rental prices on track to decline in 2024.

BLS report shows that in December, the US added +216,000 jobs (payroll basis - non-farm payroll).

This figure far exceeds the +175,000 estimate and is higher than 65/67 Wall Street estimates, according to Bloomberg survey

However, this figure is likely to be significantly revised downward, even below the expected 175,000 because:

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