This week, investors parsed Friday's May jobs report, which was much weaker than expected. Nonfarm payrolls rose by 138,000 during the month, while analysts had anticipated 185,000. The unemployment rate fell to 4.3%, the lowest level in 16 years, compared to 4.4% in April. The jobs numbers for March and April were revised lower. Average hourly wages rose 2.5% year-over-year, in-line with where wage growth has been for months. Even with the soft jobs numbers, investors are still pricing in a 93.5% chance that the Federal Reserve announces a rate hike on June 14, when it wraps up its next policy meeting.
TheStreet breaks down eight things we learned from this week's shows with Jim Cramer.
1. Bond Market Is Signaling a Slowing in Unemployment
Cramer said the bond market is signaling a looming slowing in employment, while corporate earnings are signaling the opposite.
"It is very clear that the economy is not producing the jobs that we thought [it] was," Cramer said. "It's also losing jobs in retail at a pretty accelerated rate."
2. Lululemon's Luster Is Back
There is also plenty of risk when investing in this stock, according to Cramer. Lululemon shares are down 16% since the start of the year.
3. Canada Goose's Growing Brand
Cramer thinks newly public luxury outerwear retailer Canada Goose (GOOS) - Get Report is going to be an international brand. "It's much better than people realize," Cramer said. The company went public back in March.
4. Walmart's on a Tear!
Walmart shares are up 15% since the start of the year. At its annual shareholder meeting on Friday, the company demonstrated its e-commerce prowess.
5. Workday and Retail
Cramer was pleased with Workday's (WDAY) - Get Reportquarter. "They took Amazon (AMZN) - Get Report , Walmart and they took Target (TGT) - Get Reportin this quarter, which is rather amazing--the retailers are very quickly adopting the cloud," Cramer said.
6. Broadcom's Blowout Quarter
Cramer said Broadcom (AVGO) - Get Reporthad an extraordinary quarter. "I feel like this is the quarter you must go read because I've never heard them this bullish," Cramer said. Broadcom's profit of $3.69 per share eclipsed estimates of $3.50.
7. Self-Driving Trucks--Maybe?
Amid reports that Alphabet's (GOOGL) - Get ReportWaymo is developing self-driving trucks, Cramer said there is a shortage of truck drivers. "Schneider (SNDR) - Get Report , a very big trucking company, told me that you should not expect an 18-wheeler to have no driver in it," Cramer said.
8. Western Digital and Toshiba
Amid reports that Western Digital's (WDC) - Get ReportCEO is traveling to Tokyo to meet with Toshiba's (TOSYY) President, Cramer thinks Western Digital will be able to acquire Toshiba's flash memory unit.
More from TheStreet:
- This Is the Third-Longest Economic Expansion Since WWII
- After This Unimpressive Jobs Report, Here Are the Stock Sectors On Which to Focus
- Former Sen. Tom Coburn on Trump, Health Care and Waste in Government
Action Alerts PLUS, which Cramer manages as a charitable trust, is long GOOGL and WDC.