EXCERPT:
EGAN: "177,000 jobs were added in the month of April. That easily beat forecasts for 135,000. So, not even close there. The unemployment rate stayed low. It stayed at 4.2%. When we look at where the jobs are right now, we‘re seeing solid gains in a number of places. Accommodation and food services, restaurants, hotels, hospitals, healthcare, private education, all of them adding jobs. One place where we saw a loss of jobs again was the federal government as the DOGE cuts to the workforce continue. But still, when we really zoom out here, this jobs market has been solid, right? I mean, 177,000 jobs, when we look at the trend, look at this, we saw that March was actually significantly revised lower, to 185,000 jobs added. That‘s down from the original report. So you can see that there really isn‘t all that much of a change here, and these are still very solid numbers. Now, this is a big contrast to what‘s shown up in the surveys, right? We‘ve seen so much gloom and doom from consumers, small business owners, CEOs. There‘s all of these concerns about the economy, about the trade war. One thing I would note, as we look at the market reaction, futures were up ahead of this, they remain up.”