Last week one significant negative economic report was a very disappointing jobs report. Financial experts are in disagreement as to its implications. Here is one expert’s opinion that seems to make sense:

Known for his bullish outlook on the U.S. stock market, Fundstrat Global Advisors founder Tom Lee is not overly worried about Friday’s disappointing jobs report. He said, however, that it would be cause for concern if the sluggish pace of economic growth in the first quarter continues in the second quarter.

Government data showed on Friday the United States added just 126,000 jobs in March, well below consensus estimates for 245,000 new positions and the weakest report since December 2013. Lee noted that U.S. gross domestic product growth is currently tracking below the Federal Reserve’s expectation of at least 2 percent.

“I think if Q2 is tracking at the same level we’d have to worry, but I think that a lot of these are temporary factors,” he told CNBC’s “Squawk Box.” “The dollar (Exchange: .DXY) is reversing, construction was a drag in the first quarter, government was a drag. We don’t expect to see these the rest of the year.”

The question investors need to keep in mind, Lee said, is whether there is pent-up demand in the United States and whether the economy is capable of generating organic growth.

While capital spending was also weak in the first quarter, Lee expects U.S. producers to utilize more of their capacity, which is often a precursor to capital spending.