Big beat on jobs with clouds on the horizon

The U.S. job market hummed along in April, with growth slowing slightly from March but still beating expectations. The unemployment rate remains historically low at 4.2%.

Take this as the starting line of U.S. economic health as the world settles in for President Donald Trump’s trade war. The Bureau of Labor Statistics noted in its report today that the unemployment rate hasn’t budged from between 4% and 4.2% since last May. The question now is how long it can keep that up.