Happy jobs day!
The jobs report came in stronger than expected, but what does that mean for the market?
Jeff Marks, senior portfolio analyst with Action Alerts PLUS--Jim Cramer's charitable trust--weighed in on the report and also gave some idea to the stocks that the portoflio is watching.
But let's talk about the report.
Nonfarm payrolls rose to 225,000 last month, up from a revised 147,000 new positions in December and above analysts' forecasts of 161,500, the Labor Department reported on Friday. The unemployment rate ticked up from a 50-year low to 3.6%. Wages gained 3.1% year on year, a slight rise above December’s 3% pace.
Over the past three months, the U.S. economy added an average 211,000 jobs. Job growth was revised higher in the last four months of 2019. The share of Americans working or looking for work rose in January to 63.4% from 63.2% in December.
Watch the video above for more.
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