Market backs off on hopes for interest rate cuts following strong jobs report

Beyond signaling a still-vibrant labor market, Friday's jobs report at the very least adds to the narrative that the Fed doesn't have to be in a rush to lower interest rates.

Beyond signaling a still-vibrant labor market, the data at the very least add to the narrative that the Fed doesn't have to be in a rush to lower interest rates. Asthe central bank's 2% target, there's scant evidence that higher rates are endangering broad metrics of economic growth. Moreover, the household survey, which is used to calculate the unemployment rate, showed a decrease in employment of 408,000 and a continuing trend of part-time employment far outpacing full-time positions.

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