Trump cheers US economy after June jobs surge despite virusHiring rose in June as US states lifted lockdowns but a resurgence of the coronavirus could undo thatWASHINGTON - President Donald Trump on Thursday hailed new data showing huge jobs gains in June, but continued to downplay surging COVID-19 cases that could reverse the tentative recovery. The new data together with the 2.7 million jobs won back in May means the economy has regained 7.5 million of the more than 22 million jobs lost since mid-March amid the coronavirus pandemic as businesses were closed nationwide to prevent the spread of infections. "Today's announcement proves that our economy is roaring back," Trump said. Leisure and hospitality added 2.1 million positions and retail grew by 740,000 jobs, while manufacturing and construction also rehired in large numbers. Beneath the appealing look, the labor market is still facing a net loss of 14.7 million jobs from the global coronavirus recession," he said.

Source: Bangkok Post July 02, 2020 14:48 UTC