The US unemployment rate will decrease in June as the United States begins to restore its economy, White House Economic Adviser Larry Kudlow told reporters on Friday
WASHINGTON (Pakistan Point News / Sputnik - 05th June, 2020) The US unemployment rate will decrease in June as the United States begins to restore its economy, White House Economic Adviser Larry Kudlow told reporters on Friday.
"According to the Chamber of Commerce, the most recent number in late May-early June, 79 percent of small businesses have reopen. We are going to see more continued progress in June jobs numbers when they come out," Kudlow said at the White House.
Earlier on Friday, the US Labor Department said in its monthly employment report the United States has gained 2.5 million jobs in May despite continued business shutdowns forced by the measures to combat the novel coronavirus crisis. The US unemployment rate now stands at 13.3 percent compared with the historic high of 14.7 percent a month ago.
"The key is that those who were temporarily laid off have gone back to work," Kudlow said.
The report said the number of unemployed persons on temporary layoff decreased by 2.7 million in May to 15.3 million, after a sharp increase of 16.2 million in April.
