2.5 million jobs added show that the economy will ‘return’

2.5 million jobs added show that the economy will 'return'

President Trump said on Friday that “after the surprising economic news, the US economy added 2.5 million jobs in May, with states reopening from coronavirus deadlocks in May.”

“This is really a confirmation of all the work we’ve done for three and a half years,” Trumps at the White House Rose Garden said. strong enough to close our country, save the lives of millions of people. “

The recovery reported by the Bureau of Labor Statistics shows that the unemployment rate fell from 14.7 percent in April to 13.3 percent in May.

Experts expected the unemployment rate to be around 20% as new demands for new unemployment insurance grew, due to commercial closures applied by the government to prevent the spread of COVID-19.

Some states have begun to gradually return to normal in late April, but companies that fuel or dismiss workers in most places are still facing strict restrictions.

Kickback is pursuing an aggressive federal effort to keep standing businesses. The congress offered forgivable small business loans in two slices to cover $ 670 billion in labor and overhead expenses. A separate $ 500 billion fund, managed by the Treasury Department, was used for larger businesses, including airlines.

Since March, 42.6 million people – or a quarter of the workforce – have made new claims for unemployment insurance, including 1.87 million last week.

COVID-19 fell about 2 million Americans and killed about 110,000 people. The unemployed benefited from the weekly federal support of $ 600 per week in unemployment benefits, aimed at keeping the income of most people affected by the epidemic.

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Trump spoke to the siege after a gloomy week protesting the murder of George Floyd by Minnesota police by the White House’s anti-police brutality demonstrators. Protests on Saturday and Sunday led to arson and city-wide looting.

Trump said that economic recovery “is a tremendous tribute to equality” and said that the pre-pandemic economy has the lowest unemployment rate for many groups, including African Americans.

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