The rebound of the U.S. economy continued in the month of June with 4.8 million people gaining work last month while states moved to drop Coronavirus restrictions on businesses, bringing the nation's unemployment rate down to 11.1 percent, but not erasing massive job losses in March and April to the virus outbreak. 'Today’s announcement proves that our economy is roaring back,' President Trump said in the White House Briefing Room, as he trumpeted the job gains. 'It's coming back faster, bigger, and better than we all thought possible,' the President added. In all, the economy has regained 7.5 million jobs in May and June - but that's still far short of the nearly 20.8 million jobs lost in March and April as the Coronavirus forced various states to shut down most economic activity. Taking no questions during an appearance in the White House Briefing Room, President Trump rattled off the positive points from Thursday's jobs report, as the nation's unemployment rate has dropped back from a high of 14.7 percent in April. 'The crisis is being handled,' Mr. Trump said of the virus outbreak, as he downplayed the recent growth in virus cases across the south and southwest. 'We're putting out the fires,' the President said, without getting into details of case increases led by California, Arizona, Texas, and Florida, as all four of those states have reimposed some virus restrictions on businesses in recent days. 'The stock market is soaring with the best gains in over 20 years,' the President told reporters. While GOP lawmakers joined in heralding the latest economic news, some also pressed the President to agree to more aid for workers hit hard by the virus outbreak. 'While this report is certainly a cause for optimism in terms of our economic recovery, we're not close to being out of the woods yet,' said Sen. Rob Portman (R-OH). Portman has championed a plan to give a $450 a week bonus to workers returning to their jobs, as a way to boost incentives for economic growth. It's one many plans under consideration, as Senate Republicans say they will take up a broader economic relief package later this month.
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- July 02, 2020 at 11:50PM
Trump heralds jobless rate drop to 11.1 percent in June
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