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President Donald Trump is expected to deliver comments Thursday after strong job numbers came out and the number of confirmed coronavirus cases increased amid reopening efforts.
Thursday’s job numbers showed a 4.8 million job increase in June, and the unemployment rate fell to 11.1% as the United States continues its reopening efforts, according to the Labor Department.
The strong jobs report comes after the United States reported more than 50,000 new cases of coronavirus in a single day on Wednesday, setting a new record for single-day increases as outbreaks worsen in multiple states and causing officials back off or pause reopening efforts. The United States has more confirmed cases than any other country in the world.
The coronavirus pandemic has devastated the economy, closing small businesses across the country and leaving millions of Americans unemployed.
Trump is expected to sign a bill expanding the Paycheck Protection Program, a federal government program that provides forgivable loans to small businesses heavily affected by the coronavirus pandemic.
In a unanimous vote, the House led by Democrats approved the bill on Wednesday, which had already been approved by the Senate, sending it to the White House.
Originally, the program was due to end Tuesday, but the bill extends the deadline to August 8. Congress created the program as part of the $ 2 trillion pandemic rescue package approved in March.
The outbreak has spread to dozens of countries, with more than 10.7 million confirmed cases worldwide and more than 516,726 deaths, according to data from Johns Hopkins University. The United States has had at least 2.6 million cases and 128,062 deaths, according to the latest counts.
– CNBC’s Jacob Pramuk and Will Feuer contributed to this story.
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