Jobs Report Today: Hiring Remains Strong; Unemployment Rises

Traders were putting higher odds of an interest rate cut by June after the latest employment report included notable revisions to December and January nonfarm payrolls.

Fed-fund futures put just 21.6% odds of interest rates holding steady through June, down from 25.8% on Thursday, according to the CME FedWatch Tool. Odds of a 25 basis point cut through June were up to 58.8% from 57.1%. Odds the headline interest rate is 50 basis points lower through the June meeting rose to 18.7% from 16.5%. A basis point is a hundredth of a percentage point.