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If you're looking for a major takeaway from the latest jobs report, perhaps it's that the Fed is likely to keep interest rates low for a long, long time.
Ben Bernanke has stated more than once that he intends to remain aggressive until the unemployment rate slides down to 6.5%. In February Bernanke told Congress that his goal probably remained 3 years away.
If anything that 3 year time frame may be conservative considering the economy only created 88,000 jobs last month.
"Therefore in a world where the Fed is likely to keep interest rates low for a long time, possibly much longer than we'd thought after today's dismal March jobs number, investors looking for income need to go out and hunt for yield," said Cramer.
"You won't find it in bonds or certificates of deposit," he added.
And the Mad Money host thinks one of the best places to find yield is in the stocks issued by real estate investment trusts or REITs.
"For example you could look at American Realty Capital Properties," said Cramer. It's one of many REITs that Cramer thinks should be on your radar. "I like this stock at current levels," he said.
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This company has been trying to takeover Cole Credit Property but at the time of writing, those overtures had been rejected.
On Friday's broadcast Cramer talked with Nick Schorsch, the chairman and CEO of American Realty Capital to find out more about the jilted bid and what the company may do next.
"I urge you to look at what it would mean if they can do this deal," said Cramer.
Get all the details. Watch the video above.
Call Cramer: 1-800-743-CNBC
Questions for Cramer? madmoney@cnbc.com
Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com
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