White House Says Most Coronavirus Job Losses Likely to Be Temporary

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The White House said the Paycheck Protection Program helped avert a wave of small-business bankruptcies and that 82% of the increase in joblessness is likely to be temporary rather than permanent as a result

WASHINGTON—Four-fifths of the increase in unemployment between February and May was likely temporary, the Trump administration estimated Thursday in a report that said relief spending significantly reduced the economic pain caused by the coronavirus pandemic.

The number of unemployed Americans rose from 5.8 million in February to more than 23 million in April, as swaths of the economy were shut down to slow the spread of new coronavirus. The jobless rate was 10.2% in July, with 16.3 million people out of work.

 

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Haha

Biggest fraud program in American history as millionaires received millions.

Yeah but the WhiteHouse spreads realDonaldTrump's fantasy facts. The economy is doing great --- 10% unemployment rate. COVID-19 is going away --- it isn't. Anyone who wants to get tested can --- they can't. Children only get mild cases --- long term effects of COVID 19 ?

the white house has no credibility left________

WH bullsh*t.

Not without another round. Those funds have been burnt and customers aren't shopping like life is back to normal

Beware, it must've happened in the US also...

WSJ, How much Longer do you think the President’s Administration can continue to pour trillions of TAX PAYERS DOLLARS into the economy to maintain the Market from Crashing?

Bullshit! We will never be the same after this.. the trump administration made sure trumps big business cronies got more loans than Main Street small businesses did!

Yeah, yeah, yeah. And tax cuts will pay for themselves, the virus will just disappear, the phone call was perfect, and Donald is the hardest working President in history. I'll believe it when I see it with my own eyes, and I'm not holding my breath.

Pff. the White House said lots of shit.

Let's be honest, though: nobody believes anything that comes from the WH right now.

Who can believe the WH now, 166k dead and increasing

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