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Editor's Note: Below is a brief chart and excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.

"... That’s why stocks sold off on Friday’s #SuperLateCycle jobs “news.” In rate of change terms, fully-loaded with all the part-time hiring and construction work (yes, the weather helped in that case):

  1. December non-farm payroll growth slowed to 1.88% year-over-year growth vs.
  2. The Cycle Peak of 2.34% non-farm payroll growth in February of 2015" 

CHART OF THE DAY: Contextualizing The #SuperLateCycle Jobs Report - 01.11.16 EL chart