Jim Cramer Explains Why the Jobs Report Isn't Enough to Offset Coronavirus Fears

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Nonfarm payrolls rose to 225,000 in January, up from a revised 147,000 new positions in December and above analysts' forecasts of 161,500, the Labor Department reported on Friday.

The unemployment rate ticked up from a 50-year low to 3.6%. Wages gained 3.1% year on year, a slight rise above December’s 3% pace.

Over the past three months, the U.S. economy added an average 211,000 jobs. Job growth was revised higher in the last four months of 2019. The share of Americans working or looking for work rose in January to 63.4% from 63.2% in December.

So, was this enough to offset market fears around the coronavirus?

According to Jim Cramer, the answer is no.

Watch the video above for his full explanation.

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