Trump says US economy ‘roaring back’
Even as COVID cases soar
WASHINGTON (Reuters) — After days of record spikes in new COVID-19 cases and hospitals warning they could run out of beds, US President Donald Trump’s White House on Thursday sought to convey that all was well in the battle against the coronavirus and touted efforts to get the economy moving again.
Florida reported more than 10,000 new coronavirus cases on Thursday, the biggest one-day increase in the state since the pandemic started. That followed a spike in the number of cases nationwide to nearly 50,000 on Wednesday, the fourth record rise in infections in the last seven days.
The United States has now reported more than 128,000 coronavirusrelated deaths, nearly a quarter of the global total.
The rising number of cases follows moves in many states to allow businesses to lift strict shutdowns, which have boosted job growth but also appear to have accelerated the spread of the virus as people returned to restaurants, bars and retail businesses.
As the wave of new cases accelerates, some states have paused or scaled back their reopenings, while closing beaches and cancelling fireworks displays over the upcoming US Independence Day weekend.
Still, a Labor Department report out Thursday showed the window of reopenings had a dramatic impact on hiring, with the US creating jobs at a record clip in June.
“Today’s announcement proves that our economy is roaring back,” Trump told reporters at the White House, while touting his administration’s efforts to beat back the virus as “a historic thing.”
The data showing a gain of 4.8 million jobs does not reflect that governors of states hit hardest by new infections have halted or reversed moves to reopen in recent days.
The latest batch of high-frequency data assembled by Federal Reserve officials, economists, cell phone tracking companies, and employee time management firms suggests economic activity stalled in recent days.
“More than ever, we’re concerned about the worsening health situation and its impact on the burgeoning recovery. Rebounding mobility and poor use of protective equipment will make for a dangerous summer cocktail,” Oxford Economics analyst Gregory Daco wrote.
Employment remains 14.7 million jobs below pre-pandemic levels.
A strong economy is an important plank of Trump’s campaign for re-election in November. Joe Biden, his expected Democratic opponent, slammed Trump’s comments on Thursday.