Reuters report - significance!!!

[Beep_Beep]

April payrolls checked in up 88K, slightly below consensus, but the unemployment rate and the average workweek were right on the mark at 4.5% and 33.8. A positive surprise was found in hourly earnings, which were up 0.2% (3.7% yr/yr) versus an expectation for a 0.3% gain. This is the type of report that will once again elicit mention of Goldilocks, as it was neither too hot nor too cold to pique any meaningful concern about the pace of economic activity or the potential for another rate hike. In brief, it was a good report for the stock market.