"While you might not think the overall economy is getting better, you're missing the big picture," Cramer said.
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Take unemployment, for example. Weekly jobless claims fell 5,000 to a seasonally adjusted 330,000, dropping to its lowest level in nearly five years, according to the Labor Department . Analysts polled by Reuters had expected claims to rise to 355,000 last week.
"There's absolutely no coincidence that we hit five-year highs today at the same time that unemployment claims hit a five year low," Cramer remarked, adding improved jobs data doesn't seem to be the only tailwind for the stock market, though.