Here's why Wall Street strategist Jim Paulsen says jobs data shows we may be in a 'new bull market'

Jim Paulsen
Olivia Michael | CNBC

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Wall Street strategist James Paulsen said Thursday that the recent economic reports are pointing to a recovery that could send stocks on an extended climb. 

"They're all telling a similar story. You can argue about whether they're stronger or weaker or whether they're overstated or not, but the direction of the economy is certainly north, and I think that's all it has to do to continue to provide confidence not only to investors but also to companies and to consumers," Paulsen, the chief investment strategist for the Leuthold Group, said on "Squawk Box."