Categories: Business

Trump cheers US economy as june jobs surge

Photo: AP (FILE)

Trump on us economy

new Delhi. US President Donald Trump said on better employment figures than anticipated that it was a sign of the US economy recovering from the Corona virus epidemic. He said, "Positive news of increased employment opportunities suggests that the US economy is recovering from the Corona virus epidemic." Are trying. In fact, many states of America, especially the southern and western states, are witnessing a spurt in corona virus cases. As such, these states are slowing down the process of reopening the economy.

Employment related data has been released in the US today, according to which about 48 lakh new jobs have been created in June. Unemployment rate in the US has come down to 11.1 percent due to better second consecutive months of employment. However this is only a small part of the jobs lost during the Kovid-19 epidemic. The lockdown caused by the epidemic caused more than 20 million people in the US to lose their jobs. The US has been able to regain one-third of these jobs due to new jobs. The South American states (Sun Belt) are increasing the number of corona virus-infected cases. In such a situation, it is feared that the improvement in the employment situation may stop. Wherever some restaurants, bars or other retail outlets resumed business in these states, they have been forced to close the business again. The phase of layoffs continues with the closure of these businesses.

The number of people applying for unemployment allowance came to 14.7 lakhs last week. The end of March saw a sudden spurt in the number of people applying for unemployment allowances. Since then it has been declining on a weekly basis. However, it is still double the 1982 high. The number of people receiving unemployment allowance still remains 1.9 crore. Bars, theaters and sit-down restaurants in California have closed again. The beach and bar business in Florida has also closed. Texas has maintained some plans to reopen its economy. New York has deferred plans to open sit-down restaurants. A report by JP Morgan Chase, a company that monitors credit and debit card costs, shows that customers have reduced their purchases in the past week. Whereas in April and May it increased steadily.

This post was published on July 2, 2020 11:56 pm

Content Team

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