Jim Cramer on ADP Payrolls: 'We're On Thin Ice'

Jim Cramer has some thoughts on the markets after the ADP private payroll numbers showed the unemployment levels many feared.
Publish date:

What should we be prepared to see from the jobs report on Friday?

Well, quite frankly, there may be a stark lack of job adds last month.

ADP and Moody's Analytics reported on Wednesday that companies reduced payrolls by 20.236 million in through mid-April as the worst of the coronavirus-induced economic freeze began claiming vast numbers of full and part-time positions.

Economists surveyed by FactSet had forecast a loss of 21 million private payroll jobs last month. The report covered the period through April 12, when the majority of businesses had closed their doors as the pandemic rolled across the United States.

Watch the full video above for Jim Cramer's full take.

Want to know what Cramer and his team at Action Alerts PLUS are thinking about the markets and the stocks they're watching? Sign up on Action Alerts PLUS for more.

Cramer and the team are weighing in on what members need to know about the coronavirus pandemic's impact on the market. Cramer and his team will be hosting a live monthly conference call on Thursday, May 14.

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

Watch More of the Latest Videos on TheStreet and Jim Cramer