By Chuck Mikolajczak NEW YORK (Reuters) – The S&P 500 rose modestly to kick off the second quarter on Friday, as the monthly jobs report indicated a strong labor market and is likely to keep the Federal Reserve on track to maintain its hawkish policy stance. The Labor Department’s employment report showed a rapid hiring pace by employers while wages continued to climb, although not enough to keep pace with inflation. U.S. employers added 431,000 jobs in March, which was shy of the 490,000 estimate but still showed strong job gains. The unemployment rate dropped to 3.6%, a new two-year low whil…