Kudlow: Job gains, wage growth show Trump's 'economic boom continues'

White House economic advisor Larry Kudlow is extremely optimistic about the U.S. economy.

"The economic boom continues," he said on CNBC's "Squawk on the Street" Friday, citing the August jobs report. "It's the big story of 2018."

The August jobs report came in above expectations Friday. The U.S. economy created 201,000 nonfarm payroll jobs for the month versus the 191,000 estimate from economists surveyed by Reuters.

Kudlow also referenced other recent reports as evidence for the strong economy.

"Wages are rising very very well. This is great stuff. And it's widespread," he said. "ISM manufacturing BOOM! ISM services BOOM! There is no let up to this. Consumer spending, we're probably emerging into a capital goods boom right now."

Last month, the government said GDP grew at a 4.2 percent annualized rate in the second quarter, the fastest pace in nearly four years.

Kudlow is director of the National Economic Council and is one of President Donald Trump's top advisors.

This is a breaking news story. Check back for updates.

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