.MadMoneyOnCNBC's JimCramer on the “stunning” May jobs report: “We’re back.”
, saying the 2.5 million jobs added last month was evidence the U.S. economy was bouncing back from the coronavirus-induced devastation."I think there were a lot of people who felt that the layoffs would be permanent, and it's obvious that there's so much demand that people have to bring people back."Economists surveyed by Dow Jones had anticipated that nonfarm payrolls would drop by 8.3 million and the jobless rate would increase to 19.5% from April's 14.7% rate on 20.
The "Mad Money" host noted that the unemployment rate is still nearly 13.5%, but "you praise 13.5% when you're looking for 20%." Cramer said he was encouraged by the sectors that added jobs such as travel and leisure and construction. "America wants to do things and employers are not only just ready to hire people back, but they want the country open."
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