White House economic adviser Larry Kudlow called Friday’s jobs report “very fluky” and urged people to not pay attention to it.
The Labor Department had reported that the unemployment rate had fallen to 3.8 percent, down from 4 percent the previous month, but said that hiring growth declined , with the U.S. adding only 20,000 jobs in the last month.
“I think you have timing issues with respect to the government shutdown, winter seasonal issues,” Kudlow told CNBC. “I think it’s very fluky. I wouldn’t pay any attention to it to be honest with you.”
Kudlow said that economic growth was still strong and that the latest numbers were likely to be adjusted. “This is all going to be revised up,” he said.
The report showed that hiring slowed in the retail and manufacturing sectors, the latter adding just 4,000 workers compared with and an average of 22,000 per month in the last 12 months. Manufacturing has an area that the Trump White House has sought to boost.
