Trump includes jobs that show reporting signal

The White House is trying to capitalize on the latest numbers of jobs, claiming they point to a strong economic recovery among President TrumpDonald John TrumpJoe Arpaio loses bid for his old position as Sheriff Trump blames opinion that Russia denigrates Biden: ‘No one is harder on Russia than I am’ Trump truncates executive orders over economy but will not yet report even as millions remain unemployed and states struggle with increases in coronavirus infections.

De figures released by the Department of Labor over Friday exceeded Wall Street expectations, registered 1.8 million jobs were obtained in July and a drop in the unemployment rate to 10.2 percent at a time when southern and western states were forced to resume pause or roll back opening plans.

However, the data point to an economic downturn, which challenges the White House’s Bullish predictions for a rapid V-shaped recovery. The figures also come at noon collapsed conversations between the Trump administration and Democratic leaders over a coronavirus relief package, which economists say is desperately needed to prevent a deeper recession.

“This is not a rocket ship,” said Martha Gimbel, senior manager of economic research at Schmidt Futures. “It’s really unclear if the economy will reach escape rates before the lack of government spending crashes or before … we have to shut down again, which is a total possibility.”

White House economic adviser Larry KudlowLarry KudlowMORE, which conducted the rounds on cable news on Friday morning, declared that the figures showed an ‘independent recovery’ and predicted that the United States would see unemployment in the single figures in the autumn months.

“The concern that some partial shutdowns or some pausing shutdowns would wreck the numbers of jobs did not materialize. “I think that shows signs of strength,” Kudlow told Fox Business.

July earnings were much less than the $ 2.7 million recovered in May and the $ 4.8 million returned in June, bearing predictions that emerging cases of coronavirus would weaken the economy.

Meanwhile, last month’s unemployment rate was reminiscent of the depths of the Great Recession, when unemployment peaked at 10 percent in October 2009. As recently as February, it was 3.5 percent.

Economic analysts say that despite the work report, additional fiscal stimulus is still needed. Many point to an extension of the extended benefits for unemployment and additional assistance to states as necessary steps to revive the economy through recovery until there is a vaccine for the coronavirus.

“This task number addresses the unintended need for additional federal support,” said Isaac Boltansky, director of policy research at investment bank Compass Point Research & Trading.

However, many conservatives do not agree.

Stephen MooreStephen MooreTrump includes job report signaling slow Trump considers executive order to re-improve unemployment benefits Trump says he is considering executive action to halt layoffs, tax cuts, a conservative economist and informal adviser to Trump, argued that the data shows that a multi-trillion-dollar stimulus package is not necessary because the economy was not in the ‘free fall’ it was earlier this year.

“It was a good number, not a large number,” Moore said on Friday.

Trump is now preparing for possible executive action to introduce economic measures, missing a last-minute deal over Capitol Hill with Democrats.

Treasury Secretary Steven MnuchinSteven Terner MnuchinTrump completes executive orders on economics but will not sign yet Overnight health care: Trump will take executive action after colonial virus talks crash | Fax official says he would resign if political pressure on Coronavirus talks collapses if negotiators can no longer reach, one of Trump’s top two negotiators, told reporters following Friday’s meeting with Democrats that he and White House Chief of Staff Mark MeadowsMark Randall MeadowsTrump completes executive orders on economics but will not sign on yet On The Money: Five July takeaways from jobs report Overight Health Care: Trump will take executive action after coronavirus talks collapse | Fax official says he would resign if politics pressed MORE would recommend Trump go ahead with some executive assignments over the weekend related to improved unemployment benefits, rentals and student loans. Trump is also considering an executive order to postpone the tax service.

“Despite the fact that we had a very good job number this morning, there are still too many people who are without their own fault because of this coronavirus,” Mnuchin said.

The economy has been a central focus on Trump’s pitch for re-election. The pandemic has forced business closures and caused havoc on the economy, forcing Trump to change his message to voters.

The president and his campaign have focused on the strength of the U.S. economy ahead of the coronavirus and sought to make the case that its policies on trade and deregulation would enable a rapid rebound.

In a speech in Ohio on Thursday, Trump gave a broad summary of what his economic agenda would look like in the second term, such as returning jobs and supply chains from abroad.

‘We have closed it; we save millions of lives. But now we open up, and it looks like I was right about the ‘V’, because you see the kind of numbers that come in, and they come in strong, ‘Trump told the crowd at a Whirlpool plant in Clyde, Ohio, on Thursday afternoon.

Trump, who is at his golf club in Bedminster, NJ, celebrated the jobs of Friday figures in a few tweets and later Friday night they showed what a lot to expect during an impromptu press conference. The president stepped up improvised presentations to moderate the record increase in jobs in May and June, when states began reopening plans that many public health officials considered too soon and too soon.

Trump has been more recent in his economic agenda than polls show he nominated a presumptive Democratic president Joe BidenJoe BidenDemocratic convention line-up to include Ocasio-Cortez, Clinton, Warren: reports Whitmer met with Biden days before VP announcement: Maxine Waters reports that Biden ‘can not go home without a Black woman VP’ MORE is nationally and in battlefield states. The same research shows that while Trump is the preferred candidate in dealing with the economy, Biden leads on other issues such as race relations and the coronavirus.

The Trump campaign quickly picked up on better-than-expected figures Friday and accused Biden of tax increases and environmental policies that would cause “regulation for labor killings.”

“The fundamental choice for voters lies between the fantastic record of President Trump, who once built and rebuilt the best economy in the world, and Joe Biden, whose economic record is terrible and whose plans for the future are devastating. , “said Trump campaign communications director Tim Murtaugh.

In his own statement, Biden focused on the 16 million Americans who are still unemployed and put the US in a “deeper economic hole than we should be because of Donald Trump’s historic failure to respond to the pandemic.”

Updated at 8:55 p.m.