The Dow Jones Industrial Average gained 369.96 points or 2.12% finishing at 17,847.63.
The broader  S&P 500 index rose 42.07 or 2.05% to 2,091.69, while the Nasdaq index jumped 104.74 or 2.08% to 5,142.27.
The US market added 211,000 new jobs in November leaving unemployment at 5%.
Many investors now believe it is inevitable that the Federal Reserve will raise interest rates when it meets on 15 and 16 December.
Bank stocks were among the days big winners. Shares of JPMorgan Chase grew by 3.2% while Citigroup shares were up 3% and shares of Wells Fargo rose 2.7%.
Oil services companies were some of the few to fall on Friday after OPEC- a group of large oil producing countries- announced it would keep production levels unchanged.
Servicing company Weatherford International lost 4.5% and Transocean fell 3.9%
While the domestic economy showed signs of strengthening, the slowdown in the global economy weighed on America's trade deficit.
Data from the US  Commerce Department showed the gap between what America imports and what it exports rose 3.4% to $43.9 billion in October.

The paper apologised for "insensitive language" in its report that linked the accident to previous "drunken partying and the wrecking of apartments".
Five of the six people who died were Irish students temporarily in the US as part of a work exchange programme.
In a letter, Mrs McAleese said the report used "lazy tabloid stereotype".
She said she had been part of the same visa programme more than 40 years ago and out of tens of thousands of students who had visited the US, "the vast majority have been a credit to Ireland".
In the letter published by the Irish Times, Mrs McAleese said the report had "heaped deliberate injustice on top of the most awful grief".
The newspaper said in a blog that the article was intended to explain in greater detail why the young Irish students were in the US, and many of the complaints it had received were valid.
New York Times spokesperson Eileen Murphy said in an email: "It was never our intention to blame the victims and we apologise if the piece left that impression."
Read more: Tributes to Berkeley balcony victims
The incident happened during a 21st birthday party in the early hours of Tuesday in the city of Berkeley.
Engineers say water damage may have caused the structure to give way.
An initial investigation found that the balcony support's wooden beams may not have been sealed properly at the time of construction, Berkeley Mayor Tom Bates said.
However, he later stressed that this was not an official conclusion and that an investigation was still under way.
Authorities said 13 people were on the fourth-floor balcony when it collapsed.
People left flowers and other tributes at the scene on Wednesday as flags on both sides of the Atlantic flew at half-mast.
Irish students held a candlelit vigil in a park close to the scene of the tragedy on Wednesday evening, and a memorial church service was held in Oakland.
(Close): Wall Street closed up following a strong US jobs report that showed unemployment remaining at a seven and half year low.
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The New York Times "should be hanging its head in shame" over a report on the California balcony collapse, former Irish President Mary McAleese has said.