By Dan McCaleb | The Center Square
The U.S. economy added 2.5 million jobs in May as states started easing restrictions on businesses that were put in place to slow the spread of the novel coronavirus.
The U.S. unemployment rate dropped to 13.3 percent in May, according to numbers released Friday by the U.S. Department of Labor, down from 14.7 percent in April.
Trump touted the positive news at a press conference in the White House Rose Garden Friday where he signed legislation that allows more flexibility for businesses that received Paycheck Protection Program loans.
“We’re bringing our jobs back,” Trump said. “We’re gonna be back there. I think we’re actually going to be back there higher next year than ever before.”
Stocks soared following the report.
Trump has repeatedly urged U.S. governors to ease restrictions that closed businesses deemed nonessenital so the economy can recover.
“We’ll go back to having the greatest economy anywhere in the world, nothing close,” Trump said. “And I think we’re going to have a very good upcoming few months. I think you’re going to have a very good August, very good July, but a spectacular, maybe a spectacular September.”
Trump also predicted that 2021 could be one of the best economic years ever.
“Next year is going to be one of the best years we’ve ever had economically,” Trump said.