Federal figures that show the U.S. economy added 138,000 jobs in May are not a “catastrophe,” but the lackluster numbers are a sign that employment growth is slowing down for now, veteran economist Larry Kudlow tells Newsmax TV.
“The consensus was about 180. So it was under. Not a catastrophe. It’s not a recession. It just came under the consensus,” Kudlow said Friday to Newsmax’s Steve Malzberg after the release of the job figures by the Bureau of Labor Statistics.
“My guess is jobs will gradually slow down, but it’s too bad in a sense if we can reform a lot of these anti-poverty, welfare-type programs to provide incentives to work rather than exist on government.”
Kudlow, also a Newsmax Finance Insider, said while the United States is in its eighth year of economic recovery, “it’s a lousy recovery.”
“I don’t expect any miracles out of the jobs. You get miracles out