ROCKIN’ REPORT

U.S. employers added a very strong 303,000 net jobs in March, the best level since 5/23, and there were upward revisions to January and February of 22,000. Better yet, the workweek rose, the labor force participation rate increased from 62.5% to 62.7%, and wage growth slid from 4.28% in February to 4.14% in March. Strong employment growth and high and rising equity prices mean no June Fed rate cut.