(Bloomberg) -- President Donald Trump's top economic adviser said there's “no recession in sight” following a jobs report showing the U.S. added 312,000 jobs in December.
Larry Kudlow, director of the White House National Economic Council, told Bloomberg TV the employment results Friday are “a blowout” that show “a much better, more optimistic picture” after recent declines in the U.S. stock market.
Average hourly earnings rose 3.2 percent from a year earlier, more than projected and matching the fastest pace since 2009, the Labor Department reported Friday. Meanwhile, the jobless rate rose from a five-decade low to 3.9 percent, reflecting more people actively seeking work.
To contact the reporter on this story: Jennifer Jacobs in Washington at jjacobs68@bloomberg.net
To contact the editors responsible for this story: Alex Wayne at awayne3@bloomberg.net, Mike Dorning, Larry Liebert
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