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I am hitting the same issue. My Jenkins build always passes even if Coverage.py has some failing tests (I use the same command as you).
I have come up with a workaround but would ideally like to know if you figured it out?
My workaround uses the TextFinder plugin and I search the console for a specific string which I then fail the build if found….Hack-y I know!
https://wiki.jenkins-ci.org/display/JENKINS/Text-finder+Plugin
Source:stackexchange.com