TDAmeritrade's Kinahan Talks Jobs Reports, Says It 'Isn't As Bad As People Think It Is'

JJ Kinahan, TD Ameritrade Holding Corp. AMTD's Chief Strategist offered his expert analysis following the weakest U.S. jobs report in seven months.

Speaking to Benzinga, Kinahan suggested the jobs report "isn't as bad as people think it is." He noted that the private sector created 171,000 jobs last month, while the government got rid of 11,000 jobs. In fact, he added that the private sector created "careers - not just jobs."

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He continued that business sales and services, healthcare and financials were the three leading sectors that contributed to the strong "careers" growth. He added that prior job reports showed strong job growth in lesser-skilled areas, such as bars, restaurants and hotels.

Kinahan did acknowledge the pace of job creation has indeed slowed as of late - an event that's not necessarily surprising because the economic environment is currently "unsure."

Finally, the strategist pointed out that many companies may be under the impression that the incoming U.S. president could implement changes in laws and regulations. As such, many companies may be "reluctant" to add new jobs until there is sufficient clarity that will create a clearer path towards job additions.