The Department of Labor reported a blowout jobs number.  Non-farm Private Payrolls rose 262K vs. 225K consensus.  At this rate, the U. S. is heading towards full employment, which for practical purposes we define as unemployment rate of 5% or lower.

Perma-bears on U. S. economy will point to low labor participation rate.  The labor participation rate has not been this low since 1988.