March Jobs report

#Jobs — Slightly below expectations, but all stats are strong

Gain of +431,000 non-farm payroll jobs, vs. expected gain of 490K
Unemployment drops to 3.6%, down by 0.2 (vs expected drop of 0.1)
U6 unemployment fell to 6.9%, down by 0.3
Labor force participation 62.4%, up by 0.1
Average hourly earnings up 0.4%, and up 5.6% over 12 months.

February jobs revised up by +72K to +750K
January jobs revised up by +23K to +504K