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Jim Cramer: Get Ready for Higher Rates Following Strong Job Numbers

Jim Cramer says the November job gains show the economy is very strong so be ready for rates to go higher.
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The Department of Labor announced on Friday a surge in jobs with employers adding 321,000 jobs in November -- the largest one-month gain in three years. Jim Cramer says the November job gains show the economy is very strong so be ready for rates to go higher. He adds that this is an economy that is in growth mode and it needs the Federal Reserve to be thinking about taking measures so that we don't get into super growth mode or wage inflation. Cramer urges investors to take note that higher rates doesn't necessarily mean that stocks have to go lower. He says it means some stocks will go lower, notably the consumer staple stocks. So re-think your portfolio, Cramer advises. This will be the time to own some banks and industrials but it'll be the time to get out of those high-priced healthcare stocks that you held onto for so long and the food stocks that you're only into because of the dividends.

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