Hiring slowed in November, with the jobs report showing fewer than expected new jobs last month.
The Bureau of Labor Statistics' November non-farm payroll report showed 245,000 new jobs were created last month, down from the 610,000 gained last month and well shy of the Street consensus of 469,000. Average hourly earnings rose 0.3% from October to $29.49 each, taking the year-on-year gain to 4.4%.
The unemployment rate did inch down to 6.7% while the labor force participation rate fell to 61.5%.
Despite the lower than expected jobs number, stocks traded higher in intraday trading Friday. "This market represents a market that is on steroids because it's saying there's going to be a stimulus package," Cramer said.
And Pfizer (PFE) - Get Report has cut its original estimate of delivering 100 million doses of is coronavirus vaccine. It's citing issues gathering raw materials and scaling up production with BioNTech (BNTX) - Get Report, its partner in making the vaccine, according to The Wall Street Journal.
Pfizer said the "scale-up of the raw material supply chain took longer than expected," and that its late-stage trials lasted longer than anticipated, but added doses are now "being made at a rapid pace."
However, the 50 million estimate for 2020 was tagged in Pfizer's November 9 update to investors and included the first data from late-stage trials that showed a 95% efficacy rate for the messenger RNA-based treatment. Pfizer says it still holds to its 2021 forecast of 1.3 billion doses, and expects to be able to roll-out this year's batch "within hours' of approval Emergency Use Approval authorization from the U.S. Food & Drug Administration, which is set to meet on December 10.
Cramer said the market had only a muted reaction to the news because many stocks moved higher in anticipation of a vaccine, and a slower rollout only extends that anticipation.
"This market is saying 'Don't worry, what's going to happen is we're going to protect people until we get the vaccine,' which is why you have so many stocks that are doing so well," Cramer said.
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Daniel Kuhn contributed reporting to this article.