[video] Jim Cramer Quick Take: Government Must Start Putting People to Work
NEW YORK (TheStreet) -- The January nonfarm payrolls report came in lower than expected, with 118,000 jobs added against an expectation of 189,000 jobs.
TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, attributed some of the recent job weakness to the brutally cold weather that has blanketed much of the United States over the past two months.
But the main culprit has been the federal government, whose efforts at increasing hiring have been abysmal, he said. Cramer said if the federal government can't do something to spur the creation of jobs, state governments should start putting people to work.
Cramer is also irritated by the White House's lack of action when it comes to this country's energy security and natural gas. He said Jason Furman, chairman of President Obama's Council of Economic Advisors, is lukewarm about the Keystone pipeline, which Cramer says is something that would fuel jobs growth.
Furman may be considering a White House task force for natural gas, but Cramer scoffed at that, saying, "I'll believe it when I see it."
-- Written by Bret Kenwell in Petoskey, Mich.