Jim Cramer: Oct. Jobs Number Shows Economic Recovery is Ongoing
The economy added 214,000 jobs last month. Jim Cramer says the jobs numbers are more consistent with the idea that a lot more people are being hired.
The U.S. Labor Department said Friday that the economy added 214,000 jobs last month. The unemployment rate, which was expected to remain unchanged, fell to 5.8% -- that's the lowest level since 2008. Jim Cramer says the jobs numbers are more consistent with the idea that a lot more people are being hired. What's most interesting, Cramer says, is that the August number, which caused a tremendous decline in the stock market, was revised back up to the average. That shows, he says, much more consistency and less stop-start. Cramer says he also finds interesting that the restaurant and retail numbers were incredibly strong, given the big casino layoffs recently.
