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Trump Boasts Economic ‘Comeback’ With Unemployment Over 11 Percent

Donald Trump took a victory lap on the economy after the monthly jobs report released earlier in the morning showed 4.8 million of the jobs lost due to the COVID-19 pandemic returned in June.

"It's all coming back. It's coming back faster, bigger, and better than we ever thought possible," Trump said in a speech from the White House briefing room on Thursday morning. "These are the numbers. These are not numbers made up by me. These are numbers."

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Germany Saved Workers From Pandemic Unemployment — With Great Success At Low Cost

Reprinted with permission from ProPublica.

The global coronavirus pandemic threw Petra Hamann's job into peril faster than just about any other. She is a physical therapist, a profession that is all about close proximity to others, with a clientele that leans toward older people, exactly the population most vulnerable to the virus. In March, she and the rest of the 10-person therapy group that employed her lost virtually all of their clients, first as a result of clients' fears about coming in for appointments, then as a result of government stay-at-home orders.

But neither Hamann nor anyone else in her group lost their job. Instead, they were kept on and, even while having zero clients, received 60 percent of their normal pay. As about half her clients gradually started to return in recent weeks, she began making 80 percent of her usual pay (including compensation for the clients who had not come back). And she was able to do so without having to negotiate any paperwork or online bureaucracy; she and her co-workers simply signed a form from their employer.

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House GOP Leader: 'I Don't See Need' For More Aid To Jobless

House Minority Leader Kevin McCarthy on Tuesday said he didn't support more coronavirus relief, saying that he doesn't think it's needed at the moment.

"I don't see the need right now," McCarthy told reporters Tuesday, following a meeting on Capitol Hill with Vice President Mike Pence and Treasury Secretary Steve Mnuchin.

McCarthy's comment mirrors that of Senate Majority Leader Mitch McConnell, who said recently that he feels no "urgency" to pass more aid.The GOP's rejection of more coronavirus aid comes as more than 36 million Americans have lost their jobs during the COVID-19 pandemic.

Meanwhile, Federal Reserve Chair Jerome Powell predicted that the unemployment rate could hit 25 percent, higher than the peak of the Great Depression.

Powell said the job losses have hit the neediest Americans the hardest, with 40 percent of the losses coming from those who make $40,000 a year or less.

Polls also show that even the GOP base wants to see more coronavirus aid, with 73 percent of those voters saying that coronavirus aid should be a "top priority" for Congress, according to a Morning Consult/Politico poll from earlier in May.

In fact, that poll found that "economic stimulus for COVID-19" is the top priority for all voters, second only to controlling the spread of the coronavirus.

House Democrats, for their part, passed a $3 trillion stimulus package last week that included more direct payments to Americans, among other relief efforts.

However, Donald Trump has vowed to veto the legislation, giving the bill almost no chance of becoming law.

Published with permission of The American Independent Foundation.

Unemployment Hits Historic High, But Trump Still Boasts 'Greatest Economy’

During a Fox News phone interview on Friday, Donald Trump was confronted with the news that the nation's unemployment rate has risen from 4.4 percent to 14.7 percent, with 20.5 million jobs lost. He responded by saying that the nation is getting "back to work" and claiming credit for creating the "greatest economy in the history of the world" prior to the pandemic.

During a Fox & Friends call-in, Trump was asked about what the Fox host called "terrible" numbers. He responded that they were "no surprise" and that "even the Democrats aren't blaming me for that."

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