“The Labor Division’s nonfarm payrolls report gave you some goldilocks numbers, alright, with simply the correct amount of job progress and simply the correct amount of wage inflation, that means strong and meager respectively,” the “Mad Cash” host mentioned.
The U.S. economic system added 196,000 jobs, topping estimates for 175,000, and unemployment maintained a 3.8% charge. The quantity was a rebound from February’s abysmal 20,000 addition to nonfarm payrolls.
Wage progress, nevertheless, eased a bit, growing simply 0.14%.
“As traders within the inventory market, a labor report that exhibits robust progress with little wage progress is actually the proper mixture,” Cramer mentioned. “After all, it is not so nice should you work for a residing and had been hoping for a increase. Nice for the inventory market, although.”
Cramer mentioned the market did not run very excessive as a result of “we have been up for seven straight days—there was some huge cash betting to get a robust jobs quantity. In different phrases, it was already baked in.”
This is Cramer’s sport plan for subsequent week: