According to Jim Cramer, the strong jobs report indicates that the economy is performing well, and there is little that can be done to change its course.
On Friday, CNBC's Jim Cramer highlighted the strength of the U.S. economy following a surprising positive December jobs report.
Cramer stated on "Squawk on the Street" that there's no way to change the situation, as the economy is performing exceptionally well.
In December, the Labor Department reported that employers added 216,000 workers, while the unemployment rate remained at 3.7%. Despite predictions from economists of 170,000 job growth and a 3.8% unemployment rate, these numbers did not change from the previous month.
Only those who believed the economy was weak are surprised today," Cramer stated. "We're not slowing down. This is a world-class economy with lower inflation and more job growth.
In Friday morning trading, the S&P 500 ticked higher, but it is still on track for its first losing week in 10.
The jobs data released on Friday caused the stock market to react negatively, as investors worried that the positive report might lead the Federal Reserve to maintain interest rates for a longer period than anticipated. In recent weeks, the expectation of multiple rate cuts in 2024 had driven up stock prices.
Some on Wall Street desire a weaker U.S. economy so that the Fed can more aggressively cut interest rates, which could benefit growth-oriented technology companies.
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