Jim Cramer on the Jobs Report, 3M and the Defense Production Act

Jim Cramer weighs in on the markets as stocks prepare to close another volatile week.
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Happy Friday!

Let's go over what's important to know in the markets today.

Jobs Report

The unprecedented shutdown of the U.S. economy in the face of the worst health pandemic the world has seen in more than 100 years was already inflicting damage on the jobs market by mid-March, figures released by the U.S. Labor Department showed on Friday.

U.S. companies shed 701,000 positions in March, pushing the jobless rate up almost a full percentage point to 4.4%, marking the most monthly job losses since March 2009 and the end of a 10-year run of employment gains as the start of the biggest full-stop in the economy in history began to unfold

What's Going on With 3M?

President Donald Trump has ordered 3M  (MMM) - Get Report to produce N95 face masks under the Defense Production Act.

Trump told reporters in Washington Thursday that he was invoking the 1950 Act, which compels American companies to perform essential tasks for the government during times of national crisis, in order to "be able to do what they are supposed to do".

The Administration had raised earlier concerns that 3M-produced masks were being shipped overseas amid a national shortage for healthcare workers dealing with the accelerating coronavirus pandemic.

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