Trump Says Jobs Report Proves Economy Is 'Roaring Back'

President Trump said Thursday's better-than-estimated jobs report proves that "our economy is roaring back" from the pandemic.
Author:
Publish date:

President Donald Trump said Thursday's better-than-estimated jobs report proves that "our economy is roaring back" from the impact of the coronavirus pandemic shutdown.

The president's announcement comes as coronavirus infections continue to rise and some states are reversing their plans to reopen. 

Trump said "we have some areas where we're putting out the flames and the fires and that's working out well, and we're working very closely with governors. ... I think you'll see that shortly."

"This is the largest monthly jobs gain in the history of our country," Trump told reporters. "Today's announcement proves our economy is roaring back, it's coming back extremely strong."

U.S. employers added a much-larger-than-expected 4.8 million workers to payrolls last month, data from the Bureau of Labor Statistics estimated Thursday.

Stocks rose solidly Thursday after the jobs report was released.

"The stock market is soaring with the best gains in over 20 years," Trump said.

The surge in job creation for the month followed data showing an upward revision for May additions, to 2.7 million from 2.5 million. And the data showed a stronger-than-expected reading of jobless claims for the week of June 27, which fell for the 13th week in a row to 1.427 million. 

Trump noted that manufacturers added 356,000 jobs

"Manufacturing looks like it's really ready to take off at a level that's never been before," Trump said. "And a lot of that has to do with our trade policy because we're bring manufacturing back to our country and these take a long time to get going and they're now going." 

The jobless rate fell to 11.1% from 13.3% in May, the AP reported. But the U.S. has recouped only about a third of the jobs it lost in the spring.

The gains still leave more than 16 million Americans out of work, a number that could rise in the coming weeks as bars, restaurants and cafes in various parts of the country delay or reverse plans to reopen in the face of a spike in new coronavirus infections.

Trump complained about the "China virus," referencing the country where the virus originated. He said China "could have stopped it."

"They know it and I know it," Trump said.