Notably, the manufacturing sector added 17,000 jobs after two straight months of adding a mere 3,000, evidence that some of those bad results in surveys are not translating into less hiring. It aligns with other real-time indicators of the job market, such as weekly claims for unemployment insurance benefits, which hover near historical lows.

The new numbers might even be good enough to cause the Federal Reserve to rethink its plans to cut interest rates. That, at least, was the worry evident in financial markets Friday morning, as the stock market fell and interest rates on Treasury bonds rose.

A big rally in the stock market in recent weeks has been driven by the Fed’s signals that it will cut interest rates, perhaps as soon as late July. Strong June jobs numbers will give ammunition to those in the Fed who want to wait longer to see more hard evidence of an economic slowdown before cutting rates.

But just because the employment numbers take some of the “imminent recession risk” off the table doesn’t mean they signal all is well in the American economy. In effect, some of the details within the jobs report tend to confirm that in recent months the progress toward creating an economy that works for more Americans has stalled.

Most notably, average hourly earnings have risen only 3.1 percent over the last year. Inflation is low enough that this does signal a higher real income for the average wage earner. But it amounts to a deceleration over the last few months. Wages rose 3.4 percent for the 12 months ended in February.