BBH - "The January nonfarm payrolls 157k increase was in line with expectations, but the back month revisions were worth another 127k and average hourly earnings rose 0.2% a bit more than expected. The risk in the unemployment rate to 7.9% from 7.8% reflects two things--the participation rate and the incorporation of new census data.The revisions mean that the economy created a net 196k jobs in D…