Jefferies economist Tom Simons......>

US DATA PREVIEW: Jefferies economist Tom Simons noted December payrolls

employment was "a little weak

at 148K "but solid details and revisions." He adds "payrolls came in below

expectations, but the details are generally fine. AHE rose 0.3% and the upward

revisions to last month take some of the sting out of the miss against consensus

in December."

- He adds that US "wages continue to move in the right direction, though at a

somewhat slower pace than one would hope for at this point in the cycle. As

slack in the labor force continues to diminish, it will accelerate."

- He noted that the "household survey" was "pretty steady in December, with a

modest increase in household employment and a small decrease in unemployment.

Unrounded, the U3 fell to 4.095% from 4.121% last month."