WASHINGTON – The President, at a news conference today at the White House, analysed the new U.S. employment report that showed more than 2.5 million jobs were added last month during the COVID 19 pandemic.
President Drumpf spoke after the Labor Department released its jobs report for May, which showed:
- The jobless rate dropped from 14.7% to 13.3% in April. Economists predicted it would rise to close to 20%.
- Nonfarm payrolls rose by just over 2.5 million jobs after a record plunge of slightly under 20.7 million in April.
He predicted the battered economy will recover all of its lost jobs until the end of 2021.
In his speech, he described this success as
“probably, if you think of it, the greatest comeback in American history”
And he added that:
“We’re going to be stronger than we were when we were riding high,”
The President, who had counted on a strong economy for his re-election in November, said the recovery could be hampered by higher taxes and implementation of a Green New Deal climate change plan if Democrats win the White House.
The nonpartisan Congressional Budget Office predicted in May that there will still be 10 million fewer people employed at the end of 2021 than there were at the beginning of this year.
Despite the overall drop in joblessness, the unemployment rate for African Americans rose in April, from 16.7% to 16.8% .
The news conference today at the White House comes amid mass riots across the country spurred by the death of George Floyd last week.
The President said Floyd might be pleased by the jobs report.
“Hopefully, George is looking down right now, and saying, ‘This is a great thing that’s happening for our country,'”.
The aforementioned statement by the President drew a rebuke from former Vice President Joe Biden, who noted that Floyd’s last words were “I can’t breathe” as a police officer kneeled on his neck.
Biden said at an event in Delaware about President’s statement:
“For the president to try to put any other words in the mouth of George Floyd, I frankly, think is despicable,”
By Alex Ammohostianos