Larry Kudlow: ‘This Is a Dynamite Report; America’s Working, America Is Getting Paid Well’

‘America is spending, and saving and producing’

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KUDLOW: “Blowout numbers shows you the real health. Another number, I want to say this, civilian labor force — the civilian labor force up 571,000. Again, the third straight month the average is 425. What does that mean, civilian labor force? That is people coming back into the reported labor force. We sometimes say they’re coming out of the woodwork. The household survey at 590, the increase of civilian labor force, 571, tells me that America is working. And that is so important. And final point, Stu, final point — on the wage issue, average hourly earnings, 12 month changes 3.2%. But in the last three months, all right, while we’ve seen an explosion in the small business household survey, an explosion in new labor force entrants, the wage rate for the last three months at annual rate is 4.2%. So I’m just going to say this. America’s working, America is getting paid well. America is spending and saving and producing. So I think this is a dynamite report, but you've got to look under hood. Many analysts don’t. You’re lucky to have me on here. I used to do this for a living.”

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