The report provided more evidence of a stable labor market and less incentive for the Fed to lower interest rates.

The report provided more evidence of a stable labor market and less incentive for the Fed to lower interest rates.

The total picture is one of a labor market that, while undoubtedly cooling, is generally stable and resilient despite a number of challenges.

Positive April job growth and a steady unemployment rate could shift the Fed's focus back to fighting inflation, even as labor market risks persist.

Nonfarm payrolls in the United States increased more than expected in April while unemployment held, the Bureau of Labor Statistics reported Friday.