Skip to main content

NEW YORK (TheStreet) -- The nonfarm payrolls report for November beat economists' expectations of 185,000 jobs by 15,000. The unemployment rate fell to 7% from 7.3%.

Although this is another better-than-expected jobs report, it doesn't necessarily mean the Federal Reserve will taper soon, said Doug Roberts, chief investment strategist of Channel Capital Research.

Roberts told TheStreet's Debra Borchardt that it hasn't been uncommon for investors to interpret good economic news as bad news and vice versa, because good economic data increase the likelihood of tapering, whereas poor data decrease the likelihood. 

He said stocks are probably rallying on this report because market participants view the additional jobs as a one-time event resulting from the government shutdown, rather than as a positive trend that will continue. 

Roberts also added that many investors consider Janet Yellen, the nominee to be the next Fed chief, to be quite dovish.

He concluded that the Fed may discuss tapering at the next meeting but is unlikely to begin doing so for at least several months.

-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.