Just released US non farm payroll data for April, personal understanding 1) The unemployment rate is in line with expectations, and the number of new jobs is higher than expected and lower than before, indicating that the labor market is still very stable and the economy is still very resilient in the month just after the implementation of tariffs. The unemployment rate is hovering at 4.2%, while the labor force participation rate has increased, which undoubtedly indicates that the labor market is still stable. Although there was a downward revision in the employment data for February and March, the overall downward revision was not significant.