Happy Friday: If you were born in 1970 or later, the U.S. unemployment rate has never been this low, and the economy added 263,000 jobs last month.
The big picture: "Payrolls have now risen for 104 quarters in a row, and the economy has created more than 20 million jobs since the Great Recession ended in 2009," the NYT notes.
Between the lines: "As good as the dip in the unemployment rate looks, the factors behind it aren’t as hopeful as the headline number itself."
Bloomberg: "While some analysts labeled it a 'Goldilocks' report for being neither too hot nor too cold, traders maintained bets the Fed will lower rates by mid-2020, and White House economic adviser Larry Kudlow said he thinks the central bank will eventually make a reduction."
The bottom line, from economist Justin Wolfers:
Photo: Elisabetta A. Villa/Getty Images
A newborn flamingo at Rome Bioparco in Rome, Italy.
A Pennsylvania man named Jarrett Stiff dodged 2,264 tolls on the Pennsylvania Turnpike over 5 years, the Philadelphia Inquirer reports, and now he's facing the music.
Via the AP: