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Tags: kudlow | jobs report | unemployment | economy | relief

Kudlow: Unemployment Report Sets Up 'Pretty Good' Jobs Outlook

larry kudlow in a suit and red tie
Larry Kudlow (Samuel Corum/Getty Images)

By    |   Thursday, 17 September 2020 11:19 AM EDT

Thursday's unemployment report sets up a "pretty good" jobs report for September, but the overall recovery won't depend on whether a further round of coronavirus relief is approved, White House National Economic Council Director Larry Kudlow said Thursday. 

Kudlow also told Fox Business' Maria Bartiromo he doesn't think the impasse on the coronavirus bill is having an effect on the recovery, even though the first package passed earlier this year provided a "lot of liquidity."

"I really would love to see assistance for the school openings," said Kudlow. "I think it is absolutely vital that we get everybody back to school, just as it's vital to get as many businesses open as possible."

Kudlow said he does not think recovery is contingent on the package, but President Donald Trump wants an "insurance policy. He would like to see more cash out there."

Further, a stimulus package "beats raising taxes" like Democrats and their nominee Joe Biden want, said Kudlow.

"Taxpayers are trying to go back to work," he said. "Why would you drain the economy? Why would you drain wealthy pocketbooks about? It makes no sense."

Kudlow said he also had questions about a housing report released Thursday.

"I thought the housing numbers were odd, because it did dip a little bit," Kudlow told Bartiromo. "If you look at single-family stats, they went up. There is a housing boom going on, no question about it."

There are also booms in retail sales, consumer spending, manufacturing, and automobiles, said Kudlow. "The numbers have been astonishing," he said, adding that they've beaten all expectations. 

"The Federal Reserve showed yesterday that they have raised their own numbers and expect unemployment to come down below 8%," he said. "We are at 8.4% ... I think a V-shaped recovery is coming, I believe that strongly."

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Thursday's unemployment report sets up a "pretty good" jobs report for September, but the overall recovery won't depend on whether a further round of coronavirus relief is approved, White House National Economic Council Director Larry Kudlow said Thursday. Kudlow also told...
kudlow, jobs report, unemployment, economy, relief
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2020-19-17
Thursday, 17 September 2020 11:19 AM
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