Trader Says Disappointing Jobs Report Is Better Than You Think

Peter Cardillo of Rockwell Global Capital, says Friday's jobs number is encouraging, considering the participation rate improved and unemployment fell to 6.6%.

Author:: Brittany Umar
Publish date:: Feb 7, 2014 1:02 PM EST

The U.S. economy added a disappointing 113,000 new jobs in January, the Labor Department reported on Friday. That number missed analysts' estimates of an additional 185,000 jobs. But Peter Cardillo, chief market economist at Rockwell Global Capital, says the jobs number is actually encouraging when you consider that the participation rate improved and total unemployment ticked down to 6.6%. Cardillo says this data indicates that the labor market is improving despite January's jobs number getting derailed due to seasonal and weather factors.

Brittany joined TheStreet.com TV in November 2006 after completing a degree in Journalism and Media Studies at Rutgers College. Previously, Brittany interned at the local ABC affiliate in New York City WABC-TV 7 where she helped research and produce On Your Side, a popular consumer advocacy segment.