Job creation in March rebounded from February’s dismal number of 20,000 to come in at 196,000, above expectations. (And January’s and February’s jobs numbers were revised upwards, February’s to 33,000.)

So fears of a slow down were reduced and the American economy continues to hum along. Unemployment stayed the same at 3.8 percent, a near record low while new unemployment claims last week were the lowest in 49 years. Wages continued to tick up, at a 3.2 percent annual rate, well above the inflation of the last 12 months, which was 1.5 percent, but slightly below February’s 3.4 percent rate.. That puts more buying power in American pockets.

The participation rate fell slightly to 63 percent, down from 63.2 percent, as baby boomers continue to retire in large numbers.

In short, the report was a very good one, but not so good that it is likely to induce the Federal Reserve to change it’s mind about not raising rates in 2019. In other words, it’s a goldilocks report.

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