US job creation will likely top 2M this year: Larry Kudlow

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Larry Kudlow: It's a very good jobs picture

National Economic Council Director Larry Kudlow on the September jobs report, Federal Reserve policy and U.S. trade tensions with China.

The September job report released on Friday may have missed analysts’ expectations, but President Trump’s chief economic adviser Larry Kudlow sounded a positive note on overall job creation in the U.S., which he said will likely top 2 million by the end of the year.

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“If you’re going to run 200,000 or 220,000 jobs a month, that’s pretty close to what we’re talking about, you're going to get 2.4, 2.6 million jobs a year,” Kudlow said on Friday during an interview with FOX Business’ Stuart Varney. “That is very, very good, and it’s steady.”

The U.S. economy added 134,000 jobs in September, below analysts' expectations of 185,000. That lower-than-expected number was largely attributed to the damage incurred by Hurricane Florence, but according to Bankrate.com senior economic analyst Mark Hamrick, it will likely be “short-lived and recaptured within the next jobs report.”

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Kudlow also hinted there could be an upward revision of the September jobs number. In August, for instance, the number initially came in at 201,000, but was later corrected to 270,000.

“These numbers bounce around,” he said. “That’s a big upward revision. By the way, it’s very bullish for the future. So really, I will argue the number is 221,000, might even be better than that adjusted for hurricanes.”

Unemployment also fell to 3.7 percent, the lowest rate since 1969.

“That’s an awful good number,” Kudlow said.

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