Todd Schoenberger says the decline in nonfarm payroll growth is bullish for the stock market.

Todd Schoenberger, Chief Investment Officer at CrossCheck Management, stated that with revised data included, the slowdown in non-farm employment growth makes this report unexpectedly positive for the stock market. The slight decrease in average hourly wage growth helps ease inflationary pressures, although this relief may only be short-term. While ordinary Americans do have reasons to be concerned about job growth, the stock market will still cheer for this data today.