Cramer says economy is strong; ‘don’t hold your breath’ for rate cuts [Video]

CNBC’s Jim Cramer reviewed last week’s nonfarm payroll report and highlighted the thriving economy, telling investors not to expect imminent rate cuts from the Federal Reserve.

“If you’re hoping for Fed rate cuts … I say maybe don’t hold your breath. This economy doesn’t need them,” he said. “Just be glad we aren’t getting any more rate hikes.”

To Cramer, this monthly report contains the most consequential government data, adding that he’s analyzed it for more than a decade and it’s never lost its significance.

Nonfarm payrolls — the number of jobs in the government and the private sector — rose by 303,000 in March, topping the Dow Jones estimate of 200,000. The unemployment rate was 3.8%, as expected. Cramer called the country an “economic miracle,” asking investors to picture what the landscape might look like if the Fed were trying to create jobs rather than keeping rates high to restrain growth.

Cramer also commented on what this …