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Why Jim Cramer's Focused on the Jobless Claims

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What's top of mind for Jim Cramer?

Well, jobless claims.

In case you missed it, the claims came in at 3.28 million, which is higher than the expected 1.5 million. 

Watch the full video above for more.

Video Transcript:

Katherine Ross:
I'm Katherine Ross, and I'm here with Jim Cramer. We are joining you via Skype this morning in order to do our part to do social distancing. Jim, what's top of mind for you this morning?

Jim Cramer:
Well, top of mind for me is the unemployment number. The explosion, 3.2 million. And the reason why that is so significant is because without the passage of this bill... Remember, it hasn't gone through the House yet. This is the stimulus bill... we're, obviously, in huge trouble. And I think we're going to get it. And Secretary Mnuchin assured me that they're going to get it. But with that many unemployed, it shows you the country is kind of shut down. And we've got to do the health care side, and we have the do the economic side. All that will happen with the economic side, just to be sure, is that people will be able to put food on the table and, hopefully, keep their entities intact, rather than just have to close, and not pay the rent, and lay off everybody. If we get the financial side intact, then that's fine, if we can beat COVID.

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