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Report
May jobs report crushes recession fears, market expert says
The Street
Follow
6/6/2025
The May jobs report came in stronger than expected crushing fears of an impending recession.
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Sports
Transcript
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00:00
So the job numbers and what we make of this report is that we are nowhere near a recession.
00:06
We're getting us hearing a lot of recession calls.
00:08
And when you look at this job data, it just which is why the market's reacting the way
00:12
that it is.
00:12
I think it just continues to support that we are of a really resilient economy.
00:17
And although the jobs number wasn't through the roof, it beat expectations.
00:21
And just as importantly, it gives the Fed a little bit more ammunition to justify rate
00:27
cuts, which would be bullish for markets as well, too.
00:30
But one of the biggest things that has stood out to us is when we're looking at wage increases,
00:35
this is, again, very bullish from an economic perspective because we know Americans love
00:38
to spend money.
00:39
And these wage increases at a time when the rate of change of inflation is actually slowing
00:45
down as a net positive money in folks' pockets.
00:49
And that money is going to filter into the economy.
00:51
And I think we're going to see that over the coming quarter.
00:54
We believe the economy is growing at a much faster pace than many people realize.
00:58
What this report tells us about the state of the economy is we're not close to a recession.
01:03
And I know that's not a consensus call.
01:05
And the reason why we say that it is really hard to have a recession when you have unemployment
01:10
rate with a four handle.
01:12
And we don't see unemployment breaking down to a level that would concern everyone and get
01:18
that recession trade on.
01:20
We think the next 12 months from both an economic and stock market perspective are going to be
01:26
extremely prosperous.
01:28
And the capital markets are really smart.
01:31
We believe this market has had this nice recovery and resiliency because it is sniffing
01:36
out the forward-looking data that's going to come down the road.
01:40
And so we think we're in a really good spot.
01:42
I would really call this a Goldilocks market.
01:44
Like anything, it's not going to go straight up.
01:47
We're going to have hiccups along the way.
01:49
We'll have bumps.
01:50
But those dips, in our opinion, should be bought until the data changes.
01:54
And right now, the data just continues to support that it's prudent to stay bullish.
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