November Trade Deficit Widened Sharply, Setting the Stage for the
Worst Quarterly Real Merchandise Trade Deficit Since 2007, and
Taking a Large Chunk Out of Fourth-Quarter 2016 GDP Growth

Nonsense Employment Detail:
Payrolls Rose 156,000 in December, Gained 703,000 in Last Four Months, but
Full-Time Employment Rose 35,000 in December, Flat (-8,000) in Last Four Months

Annual Growth Rates in December Payroll and Full-Time Employment
Fell Sharply, to Multi-Year Lows; Nonfarm Payrolls at
Weakest Growth Since Exiting the Recession

Household Survey Revisions Were Minimal for Widely Followed Details, yet
January Unemployment Data Face a Series Break, while the
Payroll Survey Faces Net Downside Benchmark Revisions Next Month

December 2016 Unemployment Rates Mixed: U.3 Rose to 4.7% from 4.6%,
U.6 Eased to 9.2% from 9.3%, ShadowStats-Alternate Rate Eased to 22.7% from 22.8%

Despite a Monthly Nominal Gain and Downside Prior-Period Revisions,
Real Construction Spending Remained Down by 22% (-22%) from
Recovering Its Pre-Recession High

December M3 Annual Growth Notched Higher to 3.9% Versus an
Upwardly Revised 3.8% in November; Still Down from 4.5% in June