The U.S. labor market added 115,000 nonfarm payrolls in April, crushing economist forecasts of 62,000, according to the Bureau of Labor Statistics' Friday report.

While that's a strong number, it's a slight slowdown from March's upwardly revised 185,000 gain. The unemployment rate stayed put at 4.3%, exactly as expected.

Wages were a bit of a mixed bag: average hourly earnings rose 0.2% month-over-month (below the 0.3% forecast) and 3.6% year-over-year (under the 3.8% estimate).

This is a developing story…