Why Jim Cramer Isn't Surprised By the Jobs Report

The jobs report for November was released before the market opened on Friday, Dec. 7. 

TheStreet's Bradley Keoun reported on the news.

A report from the Labor Department on Friday showed that nonfarm payrolls rose by 155,000 in November, down from 250,000 in the prior month. Economists had projected a gain of 195,000 jobs.

The unemployment rate was unchanged at 3.7%, the lowest in 49 years. Average hourly earnings rose by 6 cents to $27.35, leaving them up 3.1% over the past year. 

Recent concerns over the health of the economy have reverberated from Wall Street to the Federal Reserve to the White House. The S&P 500 has tumbled 6.3% in the past month, at least partly due to concerns over slowing growth.

Jim Cramer explained why he wasn't surprised when the report came out weaker than expected.