Payrolls

In case you missed this.

From GS:

MAIN POINTS:
1. Nonfarm payroll employment increased by 200k in December, a larger gain than the consensus had expected. Part of the strong gain reflected a 42k increase in employment for “couriers and messengers”, which likely reflects temporary employment for holiday gift delivery persons. A similar spike occurred last December and was reversed in the following month, indicating that the payroll statistics are not properly seasonally adjusting for this type of hiring. Taking this into account, December employment growth was still firmer than the preceding two months, but the underlying trend is likely still below 200k.