A.M. Update – Jobs Report Beats, But Wage Growth Slows Materially

S&P futures are up +1.1% in the wake of the Payrolls report, which beat at the headline level, but the key wage growth missed and came in the lowest since August 2021. Nonfarm payrolls increased by 223,000 in December (consensus 210,000) following a revised 256,000 increase in November (from 263,000). Nonfarm private payrolls increased by…