Jim Cramer: Soft ADP Numbers May Not Reflect What's Really Going On

Payroll processor ADP announced Wednesday that the private sector added 208,000 jobs in November. Jim Cramer says the ADP number is kind of soft, but it may not reflect what's really going on. He says what is going on is that retail hiring is very very big, the banks are beginning to lend more and we're seeing more small businesses doing well. He adds that he prefers to see the Paychex indicator because it's a better gauge than ADP. Cramer believes the oil service business is going to begin laying people off so it will balance out. The Bureau of Labor Statistics shows wage declines of 1%. Cramer says high productivity and wage declines are great for profits.