Blowout jobs gains reflect ‘optimism in the country’


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.

The Dow Jones Industrial Average


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