March jobs report was enough to dim recession talk

The March employment report was good enough to dim worries about a recession and not rattle the Federal Reserve, CNBC’s Jim Cramer said Friday.

“The Labor Department’s nonfarm payrolls report gave you some goldilocks numbers, alright, with just the right amount of job growth and just the right amount of wage inflation, meaning robust and meager respectively,” the “Mad Money” host said.

The U.S. economy added 196,000 jobs, topping estimates for 175,000, and unemployment maintained a 3.8% rate. The number was a rebound from February’s abysmal 20,000 addition to nonfarm payrolls.

Wage growth, however, eased a bit, increasing just 0.14%.

“As investors in the stock market, a labor report that shows strong growth with little wage growth is really the perfect combination,” Cramer said. “Of course, it’s not so great if you work for a living and were hoping for a raise. Great for the stock market, though.”

The Dow Jones Industrial Average rose more than 40 points during the session. The S&P 500 and Nasdaq both gained about 0.50%.

Cramer said the market didn’t run very high because “we’ve been up for seven straight days—there was a lot of money betting to get a strong jobs number. In other words, it was already baked in.”

Here’s Cramer’s game plan for next week:

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