April's jobs report parties like it's '69

Every analysis of the economy ought to be prefaced by the fact that underlying asset bubbles may be threatening an economy that’s already overdue for a recession.

But that being said, April’s Bureau of Labor Statistics report couldn’t possibly spell better news for the American economy. Employers created 263,000 jobs last month, some 40% higher than what economists surveyed by the Wall Street Journal had anticipated. Our seasonally adjusted employment rate plummeted to 3.6%, a level not achieved since 1969.