CNBC’s Jim Cramer Raves About ‘Stupendous’ May Jobs Report: ‘Let’s Call This What It Is — It’s Joyous’
Economists appear to have been floored by the unexpected decline in U.S. unemployment documented in the May jobs report. And CNBC’s Jim Cramer is no exception.
Analyzing the breaking news Friday on CNBC’s Squawk Box, Cramer confirmed what the Dow Future number — up more than 600 points as of his commentary — was indicating: The May jobs report was a home run.
“It’s a stupendous number,” Cramer said. “Superb.”
Cramer noted that many observers believed the unemployment number would climb to 20 percent, instead of dropping to 13.3.
“The fact is that we’re back,” Cramer said. “I think there were a lot of people felt that the layoffs would be permanent. And It’s obvious there’s so much demand that people have to bring people back.”
Politically, Cramer said the news would benefit Republicans and Democrats alike — billing the report “great” for the country all around.
“Let’s call it as it is,” Cramer said. “It’s joyous.”
Watch above, via CNBC.
Have a tip we should know? firstname.lastname@example.org