The (https://www.cnbc.com/2026/05/08/jobs-report-april-2026.html) at 115K vs 55K expected has Wall Street dancing, but smart money should be asking: who's actually doing the hiring? Peel back the headlines and service sector quality is crumbling. $GS managed just 8.7% net margins in their latest filing while $JPM clocked 17.9% — hardly the fortress-like profitability you want when paying premium valuations in a late-cycle market.

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