Brief thoughts on the jobs report

Today's jobs report in the US showed some fairly bullish headline numbers. Not only did the unemployment rate did to a 49-year low of 3.6%, but the monster 263,000 job addition was bolstered by net revisions of 16,000, bringing the total to 279,000 jobs.

I don't want to go into the minutiae of this report. But I would highlight the household survey saw t…