The U.S. economy added 115,000 jobs in April — nearly double the 65,000 analysts had forecast — and the unemployment rate held steady at 4.3%, according to Friday’s Bureau of Labor Statistics release. On the surface, it’s a resilient labor market. Beneath it, the picture is more complicated, and for investors watching the Federal Reserve’s next move, the report effectively confirms what markets had already suspected: rate cuts aren’t coming anytime soon.