Weak job growth and significant divergence in the service sectorš§
Friday markets saw a fittingly volatile close to a choppy week, starting with a 'mixed' payroll report, which saw a cycle-low miss of 187k to headline jobs growth, -50k revision lower in prior revisions, but offset against a lower unemployment rate (3.5%) and an upward surprise in wages growth. Underneath the headline, service sector hiring was strong in healthcare and education, but offset against slowdowns in leisure and hospitality.
