April’s jobs report returned mixed results to investors on Friday, as the unemployment rate fell to 3.9 percent, an 18-year low. However, the number of jobs created, about 164,000, was shy of expectations. The labor force participation rate also decreased.
The results were met with an initial drop in equity prices and bond yields in early trading on Friday. Investors had hoped to see a bounce-back month in April after the March jobs report disappointed.