The US workforce added 303,000 jobs last month, far more than expected and the 39th straight month of job gains in the US. The unemployment rate was 3.8%. Via the Guardian:

Economists had expected the US to add 192,000 jobs for the month. Hiring has remained surprisingly strong despite the Federal Reserve’s attempts to cool inflation by raising interest rates.

Over the last 16 months, the Fed has raised its benchmark interest rates from near zero to over 5%. Hikes have been paused recently and the Fed chair, Jerome Powell, said in March that the central bank would cut rates in response to a perceived weakness in the jobs market. The next rate decision is in May.

“Reducing rates too soon or too much could result in a reversal in the progress we’ve seen on inflation and ultimately require even tighter policy to get inflation back to 2%,” Powell said this week at a business conference at Stanford. “But easing policy too late or too little could unduly weaken economic activity and employment.”

Sure, Jerry. Whatever. You're a banker, you people hate it when workers have the upper hand.

UPDATE: The numbers were so good, even Mornings with Maria had to pivot and freak out about taxes that haven't happened yet. Transcript and video via Media Matters:

STEPHEN MOORE (FORMER TRUMP ECONOMIC ADVISER): You know, we’ve been talking a lot about the stock market, and what are threats to stock market, what’s going to happen with interest rates. But I want to remind people that by far, by far the biggest risk to the stock market is what Joe Biden is proposing on taxes. If you did anything at all remotely near what he wants to do — which is double the capital gains tax, increase the dividend tax, increase the U.S. corporate tax rate from 21 to 28% — you’re talking about taxes on investment that would go as high as 50%. And so, what’s interesting is, you know, you just came out with that Fox poll a couple days ago that shows that Trump is in the lead I think in four of the five key battleground states—

MARIA BARTIROMO (FOX BUSINESS ANCHOR): Six out of seven, yes.

MOORE: Six out of seven. I just wonder if maybe the market is pricing in a little bit, you know, and employers, too, the idea that maybe we’re going to get a new president in November.

BARTIROMO: We’ll see. Does that work into your looking at markets, the idea that we could see policy changes next year? What do you think, Bob Doll?

BOB DOLL (CHIEF EXECUTIVE OFFICER, CROSSMARK GLOBAL INVESTMENTS): Yeah,has to. The policy differentials between these two guys is pretty significant, I agree with all Steve has said. One of my concerns, however, is the massive tariffs that Trump is thinking about putting on, that’s not great for our economy. But the rest of the tax issues, it’s a clear-cut differential.

BARTIROMO: Yeah, he certainly wants to keep China in check.