Joseph LaVorgna, an advisor to President Trump, said the claims about a broader slowing of economic recovery are “very misleading.”
The July jobs report slightly beat expectations as the economy recovered 1.8 million jobs in July and the unemployment rate fell to 10.2%. But many were quick to note that the pace of recovery has slowed when compared with record reports in June and May.
The resurgence of coronavirus cases in some states weighed on the labor market recovery as some federal stimulus measures also have run out. “It has slowed” this month, LaVorgna said, but “it’s not to say that it won’t reaccelerate for a couple of reasons.” LaVorgna pointed to metrics like potential revisions in the month ahead and temporary hiring, calling it a “forward looking indicator of labor demand” that he noted was up. President Trump responded to the announcement, tweeting “Great Jobs Numbers!”
Trump, at each stage of the ongoing recession caused by the pandemic, has promised that the U.S. economy will come back stronger than ever. Last month, after the report showed a 4.8 million jobs added, the president said the announcement proved “that our economy is roaring back."
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Appeals Court Revives House Democrats’ Lawsuit Seeking Testimony of Former Trump White House CounselA federal appeals court on Friday revived a bid by House Democrats to require former White House counsel Don McGahn to testify in an investigation of President Trump.
Weiterlesen »
Appeals court rules for U.S. House over subpoena for ex-White House lawyerA U.S. appeals court on Friday dealt the administration of President Donald Trump a major legal setback, ruling against its bid to block a Democratic-led congressional panel&39;s subpoena for testimony from former White House Counsel Donald McGahn. The full U.S. Court of Appeals for the District of
Weiterlesen »
States push back on White House justification for National Guard funding disparityStates are pushing back on the White House’s explanation for singling out Texas & Florida to continue receiving full funding for their National Guard troops’ Covid relief effort while all other states are set to have funds cut by 25% later this month
Weiterlesen »
GOP senator questions Trump giving RNC speech from the White House: 'Is that even legal?'Sen. John Thune (R-S.D.) has one very direct question about President Trump&39;s potential Republican National Convention speech venue.After The Washington Post reported Trump might give his RNC nomination acceptance speech from the White House&39;s South Lawn, Trump confirmed the idea to Fox News
Weiterlesen »
White House rejects Democrats' offer for $2 trillion stimulus price tagThe Trump administration on Friday rejected a Democratic offer to agree to a stimulus price tag of around $2 trillion, the latest indication that talks continue to falter and may collapse completely with the two sides still far apart.
Weiterlesen »
Russia Working to Damage Joe Biden’s White House Bid, U.S. Intelligence Agencies SayThe U.S. intelligence community has assessed that Russia is using a range of measures to denigrate Joe Biden ahead of the 2020 election, while China prefers that President Trump not win reelection, a senior intelligence official said in a statement Friday
Weiterlesen »