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Squawk on the Street

Cramer's Morning Take: March Jobs Report 4/10/23

Squawk on the Street

CNBC

News, Business, Investing

4.1567 Ratings

🗓️ 10 April 2023

⏱️ 3 minutes

🧾️ Download transcript

Summary

Jim Cramer and Jeff Marks discuss the March employment report and how it is impacting the market. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Transcript

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0:00.0

I'm Jim Kramer, and you're about to hear a sample taken directly from today's CBC Investing Club

0:07.6

morning meeting.

0:08.6

We did not have a show after the employment number came out, a couple of things that

0:14.8

I think are salient.

0:16.0

There was a, at 3-236,000, employment was the lowest number of monthly job additions since December of 2020.

0:23.6

A hourly wages were still up.

0:26.6

They're up.3.

0:27.6

And Jeff, you know that if we're supposed to have deflation, these numbers as soft as they were are not soft enough.

0:34.6

Right.

0:35.6

Waging, wage prices, wage growth still higher than expected. Some good

0:40.4

things, though. Labor force participation rate ticked up. That's good as well. Market interpretation

0:46.3

perhaps gives the Fed another cover to raise 25 basis points in May. But I know in your Sunday column last night, the excellent,

0:57.0

very thorough story that you put out every single Sunday that I know you work very hard on.

1:02.6

You raised the issue about commercial lending. Yeah. And how that by the banks, that fell 105 billion

1:08.1

in the last two weeks. So can they really raise rates still?

1:11.6

I don't think so.

1:12.6

One of the things when you have, this is one of the reasons I have such a problem with the federal

1:16.6

government's numbers.

1:18.1

If you talk to a retailer, you'll hear on the conference call, well, what was the cadence?

1:24.1

Meaning was the month of May, as going forward, what are you saying for May?

1:31.2

What did you have, what we were doing April and how about March and February?

1:36.1

So that you try to say, oh, I see it's turning.

...

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