US Jobs created in March slows but not enough.

US jobs created in March came in on expectation at 236,000 jobs which was not the slowdown the market was looking for. This was compounded with unemployment hitting a multi decade low of 3.5%. Despite the overall creation number coming down from January and February, the market was looking for a low figure to illustrate the US economy is slowing sufficiently for the FED to stop hiking rates. In short, the March number was not weak enough to meet the markets expectations and as such the stock market’s reaction was more muted despite the jobs number coming in on consensus.