Friday's data indicates a slowing labor market, not a doomsday scenario.
CNBC's Jim Cramer said Friday that August's softer-than-expected jobs report does not dampen the chances of a soft landing for the U.S. economy. The Bureau of Labor Statistics said Friday that the U.S. economy added 142,000 jobs in August, slightly lower than Dow Jones estimates of 161,000. The unemployment rate came in as expected, ticking down to 4.2%.
A soft landing would mean the central bank slowed the economy enough to stabilize inflation levels, without causing so much damage to the labor market that a recession ensued. Friday's data release — which also included downward revisions to employment gains in June and July — makes it clear that the Fed will begin lowering interest rates at its monetary policy meeting that concludes Sept. 18, Cramer said.
Investingclubsample Breaking News: Markets Markets Investment Strategy Jim Cramer Stock Takes Regwall-Investingclub Business News
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Jim Cramer's top 10 things to watch in the stock market FridayThe highly anticipated August jobs report came up short of expectations.
Read more »
Jim Cramer's top 10 things to watch in the stock market FridayWatch Nvidia and Apple on Friday as Wall Street tries to extend its strong comeback rally in Thursday's session.
Read more »
Jim Cramer compares his favorite stocks to his favorite players in annual fantasy draftAs the football season kicks off, CNBC’s Jim Cramer drafted a fantasy portfolio, equating his favorite stocks with top players in the NFL.
Read more »
Jim Cramer says investors should be ‘playing the waiting game' until the Fed makes a moveCNBC’s Jim Cramer told investors not to make any major moves and listed impatient mistakes that he thinks many are making.
Read more »
Jim Cramer: 'I should get out of Alphabet' — but here is what's keeping me aroundJim Cramer said Thursday he's not given up hope in Alphabet yet despite its ongoing regulatory woes and lagging stock performance.
Read more »
Jim Cramer's top 10 things to watch in the stock market ThursdayWall Street was on track for a lower open as investors juggled a pair of somewhat conflicting labor market reports.
Read more »