Larry Kudlow Says The Weak Jobs Report Is 'very Fluky,' And He Wouldn't Pay Attention To It

White House economic advisor Larry Kudlow said Friday's shockingly weak jobs report is "very fluky," and he would advise not paying "any attention to it."

The reported gain of 20,000 jobs in February was the lowest monthly increase since September 2017. Economists had expected 180,000 new jobs last month.

"I think you have timing issues with respect to the government shutdown, winter seasonal issues," the director of the National Economic Council told CNBC's "Squawk on the Street." "I think it's very fluky. I wouldn't pay any attention to it to be honest with you."

Despite the jobs number, Kudlow said the U.S. economy is still on track for growth of 3 percent or more. "This is all going to be revised up," he concluded, pointing to overall gains in employment for women and blue-collar workers.

Economists have been quick to point to the fact that the government data has been inconsistent since the 35-day government shutdown and the resulting impact on the workforce.

The latest government employment data came amid growing concerns about a possible global economic slowdown and whether it could be spilling over into the U.S. economy, which advanced 2.9 percent for the calendar year 2018, and 3.1 percent when measured from fourth quarter of 2017 to the fourth quarter of 2018.

President Donald Trump commented on the report via Twitter.

In the same interview Friday, Kudlow said Trump and Chinese leader Xi Jinping could meet regarding their trade dispute later this month or early next month.

--CNBC's Patti Domm contributed to this report.

RECENT NEWS

Stocks Rise After Better-than-expected Jobs Report To Close Out Winning Week

Stocks rose on Thursday following a better-than-expected U.S. jobs report as the economy tries to recover from the coron... Read more

Record Jobs Gain Of 4.8 Million In June Smashes Expectations; Unemployment Rate Falls To 11.1%

Another big contributor to the decline of the jobless rate was a plunge in those on temporary layoff. That total fell by... Read more

17.6 Million Unemployed Americans Probably Won't Return To Their Pre-pandemic Jobs

The share of the workforce currently out of work with no reasonable chance of returning to their jobs is about 11%, or a... Read more

GM, Fiat Chrysler U.S. Auto Sales Tank In Second Quarter As Coronavirus Saps Demand

U.S. vehicle sales in the second quarter for General Motors, Toyota Motor and Fiat Chrysler plunged by more than 30% Read more

Mortgage Demand Falls For The Second Straight Week, Signaling A Potential Slowdown In The Housing Recovery

The surge in mortgage demand from homebuyers over the past two months appears to be waning, even as mortgage rates conti... Read more

Fed's Bullard Warns Of Financial Crisis Risks As Virus Cases Spike, FT Reports

St. Louis Federal Reserve Bank president James Bullard has warned that a growing number of bankruptcies due to the coron... Read more