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Jim Cramer: Why the Jobs Report Is the Key Macro Number to Watch

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Happy jobs day!

The December jobs report was released Friday, Jan. 10. 

The report came in weaker than expected, with 145,000 jobs added in December, which came in shy of the expectations for 160,000 jobs. 

"The numbers marked a muted end to a year - and decade - in employment growth, framed by dramatic shifts away from manufacturing and full-time positions to the rise and growth of the "gig" economy, which has continued to put Americans to work and padded their pockets with cash, fueling the U.S. economy in the process," reported TheStreet's M. Corey Goldman. 

Cramer weighed in on the report, but--more specifically--why the jobs report and unemployment numbers are so important.

"Oh boy, [the jobs report] always matters. I did a study for the last 20 years. There's no number more important. It's the only macro number that you really need to focus on, frankly. And that macro number says the Fed can't tighten. And if anything to the Fed has to have bias toward loosening. And that means you're not fighting the Fed and you're not fighting the tape," said Cramer. 

Watch the full video above for more.

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