The jobs report for November was released before the market opened on Friday, Dec. 7. 

TheStreet's Bradley Keoun reported on the news.

A report from the Labor Department on Friday showed that nonfarm payrolls rose by 155,000 in November, down from 250,000 in the prior month. Economists had projected a gain of 195,000 jobs.

The unemployment rate was unchanged at 3.7%, the lowest in 49 years. Average hourly earnings rose by 6 cents to $27.35, leaving them up 3.1% over the past year. 

Recent concerns over the health of the economy have reverberated from Wall Street to the Federal Reserve to the White House. The S&P 500 has tumbled 6.3% in the past month, at least partly due to concerns over slowing growth.

Jim Cramer explained why he wasn't surprised when the report came out weaker than expected.