Just released so too soon to tell with equity futures, but I suspect this will be very bullish stocks as it is an incentive for the Fed to cut.
Bad news is good for now.
"The government revised the increase in new jobs in April down to 224,000 from a preliminary 263,000. March's gain was cut to 153,000 from 189,000."
Initial reaction showed investors saw the news as too negative, but equities began a climb 15-20 minutes after the news.
Still too soon to see where the day will end up, but this leaves the fed with little choice but to cut at least a bit.