'UNBELIEVABLE NUMBERS': 'Kudlow' panel analyzes jobs report

Economic Outlook - The economy is expected to perform well in the upcoming year due to a combination of factors including lower oil prices, tax cuts, and a new Federal Reserve chairman [5][25][43] - Oil prices have significantly decreased, with Brent crude below $60 per barrel and West Texas around $55, down from $80 at the start of the year, which is anticipated to lower inflation [7][21][23] Job Market - The recent jobs report showed an increase in private sector jobs, averaging 75,000 over the past three months and 88,000 over the last year, despite a decline in federal jobs by nearly 300,000 [6][10][16] - Wage growth for production workers has increased, with average hourly earnings rising at an annual rate of 1.6%, although there are concerns about tapering wage growth [11][12] Consumer Impact - Lower oil prices are viewed as a tax cut for consumers, which is expected to support household spending and overall economic growth [18][20][25] - The reduction in oil prices is seen as beneficial for lower-income individuals, who are typically more affected by price spikes [13][14] Stock Market Performance - The stock market has shown significant gains, with the S&P 500 up approximately 35% since early April, indicating positive investor sentiment about future economic conditions [40][41][42] - The Dow Jones transport index and the small cap Russell 2000 have also seen substantial increases, suggesting a broad-based market recovery [41][42] Future Projections - Anticipation of a strong economic year in 2026 is based on current trends in job openings, productivity, and capital spending [19][32][36] - The upcoming CPI report is expected to provide insights into the impact of lower oil prices on inflation [31]