The March employment report was good enough to dim worries a few recession and by no means rattle the Federal Reserve, CNBC’s Jim Cramer talked about Friday.
“The Labor Department’s nonfarm payrolls report gave you some goldilocks numbers, alright, with just the right amount of job growth and just the right amount of wage inflation, meaning robust and meager respectively,” the “Mad Money” host talked about.
The U.S. monetary system added 196,000 jobs, topping estimates for 175,000, and unemployment maintained a 3.8% worth. The amount was a rebound from February’s abysmal 20,000 addition to nonfarm payrolls.
Wage progress, nonetheless, eased a bit, rising merely 0.14%.
“As investors in the stock market, a labor report that shows strong growth with little wage growth is really the perfect combination,” Cramer talked about. “Of course, it’s not so great if you work for a living and were hoping for a raise. Great for the stock market, though.”
The Dow Jones Industrial Average rose better than 40 elements in the middle of the session. The S&P 500 and Nasdaq every gained about 0.50%.
Cramer talked about the market didn’t run very extreme on account of “we’ve been up for seven straight days—there was a lot of money betting to get a strong jobs number. In other words, it was already baked in.”