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What October Jobs Report Tells Jim Cramer

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It's the first Friday of the month and you know what that means -- It's Jobs Report Day. 

The October Employment Report showed a net gain of 638,000 new jobs, down from 672,000 in September and largely in-line with a wide consensus forecast that narrowed in to around 650,000. The headline jobless rate fell to 6.9%, the report indicated, although that figure might also reflect a larger number of Americans not currently seeking work amid ongoing coronavirus shutdowns in several U.S. states.

Jim Cramer gives his outlook on the jobs report and what it means for the markets. 

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

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