Trump Thinks US Economy Will Recover Next Year

The U.S. is facing a severe economic crisis with record-high unemployment, fueled by the coronavirus pandemic. However, the Department of Labor released its May jobs report Friday showing a drop in the jobless rate from 14.7% in April to 13.3%. After a record plunge of 20.687 million in April, the official data show that nonfarm payrolls increased by 2.509 million jobs. Economists had predicted about 20% unemployment for May.

President Donald Trump immediately celebrated the better-than-expected data. "We're bringing our jobs back," he said at a news conference at the White House. "I think we're actually going to be back higher next year … The numbers are great. And this leads us into a long period of growth. We'll go back to having the greatest economy anywhere in the world, nowhere close I think we're going to have a great few upcoming months.