As President Donald Trump continues to predict a “V”-shaped economic recovery following widespread coronavirus-related shutdowns, the latest jobs numbers lend his argument some support.
For the second month in a row, reports have exceeded expert forecasts with a greater-than-expected drop in the unemployment rate, according to Breitbart.
“Our economy is roaring back”
Prevailing estimates set the stage for a June report showing roughly 3 million new jobs added and a decrease of a little less than one point in the 13.3% May unemployment rate.
A Bureau of Labor Statistics (BLS) report released on Thursday, however, revealed that the U.S. economy actually added about 4.8 million new jobs and the unemployment rate dropped by more than two points to 11.1%.
The positive economic news comes as all 50 states are reopening to some extent. New spikes in coronavirus cases among much of the country has caused some governors to put the brakes on such efforts, though.
Nevertheless, Trump touted the numbers during a press briefing at the White House on Thursday, describing the report as further evidence of a positive economic trend.
On top of the roughly 2.7 million jobs added in May, he said that the latest report means a total of about 7.5 million Americans have gotten back to work over the past two months.
“Today’s announcement proves that our economy is roaring back,” Trump said. “It’s coming back extremely strong.”
“You’re going to have a ‘V'”
Alfred Ortiz, who leads the Job Creators Network, told the Daily Caller that the June numbers are indicative of a “swift and ‘V’-shaped” economic recovery.
“This record jobs report, with especially strong gains in manufacturing employment, is a big step in the right direction as America overcomes the worst public health emergency in over a century,” he said.
Trump predicted in May that the stock market would rebound strongly and “you’re going to have a ‘V.'”
While some of his critics might prefer an economy that continues to limp along until Election Day, it is clear that employers and workers across the country are eager to get America working again. The way things are going, it appears the president’s predictions are on track to come true.