CNBC’s Jim Cramer said Thursday that the massive employment gains in June indicate confidence in the U.S. economy despite the coronavirus pandemic.
“There’s an optimism in the country that I think often is not shared with people who are on air, and that’s only because we don’t see the hiring. But people are hiring,” Cramer said on “Squawk Box.” “Frankly, I found it astonishing versus what we hear.”
Nonfarm payrolls rose by 4.8 million in June as the U.S. unemployment rate dropped to 11.1%, according to Labor Department figures released Thursday. Economists surveyed by Dow Jones had anticipated a jobs gain just under 3 million and a 12.4% jobless rate.