Donald Trump blames China for U.S. economy woes, vows ‘very strong comeback’
The number of Americans filing for unemployment benefits has soared to more than 30 million in just six weeks of the coronavirus crisis, the Labor Department said Thursday, while President Trump blamed the economic misery on China and predicted a “very strong comeback” by the time he faces re-election in November.
More than 3.8 million people filed claims for jobless benefits last week, down slightly from the previous week but still a staggering number that had officials predicting April’s unemployment rate will climb to nearly 20%. In February, before the pandemic forced business closings and stay-at-home orders, the jobless rate was 3.5%.
The most rapid series of layoffs in U.S. history has now hit more than one in six American workers.
Consumer spending plunged 7.5% in March, the most since the Commerce Department began tracking it in 1959. It was more than triple the previous record monthly decline of 2.1%, in January 1987.
The president said of the latest jobless report, “It is what it is.”
“It’s just a very tough situation for the people of our country,” Mr. Trump told reporters in the Oval Office. “We just got hit by a vicious virus that should never have been allowed
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