Last Updated on June 21, 2020, 8:57 AM AST by Anthony Morris
President Donald Trump has said that the US economy is doing “amazingly” well and stressed that America is witnessing a “record” numbers in terms of the job.
Trump made these comments on Saturday while he was responding to questions regarding the economy of the United States, which has been severely affected by the COVID-19 pandemic.
The unemployment rate in the country for April was the highest since 1948 at 14.7 per cent. However, the monthly rate dropped to 13.3 per cent for May with the addition of 2.5 million jobs.
The economy lost around 22.1 million jobs during March and April when most parts of the United States were under lockdown because of the coronavirus outbreak.
Some businesses reopened in May, and the rehiring of workers has picked up. Trump described the numbers as an affirmation of the excellent work which his administration is doing.
Trump told the reporters that the US economy is doing amazingly well.
He added that he would say that the numbers which the US is doing are record-setting numbers. The country has record-setting job numbers.
Trump asserted by saying that the US has record-setting, retail sales numbers; which just came out. He said that the US economy is doing very, very well.
Earlier Kevin Hassett, senior adviser to the president and former chairman of the Council of Economic Advisers at the White House, had said that the country’s economy is coming back way faster than it was expected to.
Hassette said that right now he thinks that the economists need to be humble and recognise that when the country has got 17 states where credit card spending is above where it was last year already, that it suggests that the US economy is coming back way faster than he thought.
At the same time, he added that the economy would be hit if there was to be a second wave of the coronavirus.
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
