Donald Trump, on the loss of 20.5 million jobs in the US in April: “All those jobs will return”

Within minutes of the Department of Labor revealed that 20.5 million people were unemployed in April, and that unemployment rose to 14.7%, President Donald Trump affirmed that “all those works will return”, in a telephone interview with Fox & Friends.

“It’s not a surprise, nor do Democrats blame me for that.”It was the president’s first reaction when journalists asked him about the number that had just been released. “We create the best economy in the history of the world. The best job numbers, on the stock market and in all aspects. We were the envy of the world. But they came and explained to me: ‘Sir, we have to turn it off. We have to close the country. ’ They were right, because if they hadn’t, we would have lost 2 million people, 2.5 million or even more. “

The United States, which is the country with the most cases and deaths from Covid-19 —with more than a million infections and 75,000 deaths—, recorded 3.2 million new claims for unemployment benefits during the week of April 26 to May 2. Those figures bring to 33.5 million the number of requests submitted since mid-March, when the health crisis forced companies to close their doors and more than 94% of the population was called to confine themselves to stop the spread of the virus.

“The closure was somewhat artificial, so all those jobs will be back and very soon. Next year is going to be phenomenal ”Trump stated. “It will be a record year, or almost. There is a lot of energy. We have over 30 states that are starting to come back. In the third quarter we will have a transition, the fourth will be very good and next year it will be one of the best we have had. Unless someone comes to double or triple taxes, like ‘sleepy Joe’ wants (by Joe Biden, Democratic presidential candidate). He has no idea what he’s doing. “

The US economy had never lost more than 2 million jobs in a single month, and some economists estimate that in April it may have been even more than the 20.5 million recorded.. In comparison, 8.6 million jobs were lost during the two years of the global financial crisis that began in 2008. Therefore, the Great Recession of 2009 is no longer the benchmark, but the Great Depression of the decade of the 1930.

Unemployment begins to approach historical record, which was 24.9% in 1933, at the worst moment of the most severe world economic crisis of the modern era. But even in this context, there had not been such a sudden change. Between 1929 – when the crack occurred on Wall Street – and 1930, it climbed less than six points, from 3.2 to 8.7 percent. The following year it rose seven, to 15.9%, and in 1932 the most important jump to the current one occurred, when the rise touched eight points and stood at 23.6 percent.

Throughout the 1930s unemployment remained above 14 percent. Although the shot was much stronger now, nobody expects the crisis to be so long. From 1941 onwards, the United States only had a double-digit rate again on two occasions: in 1982, when it reached 10.8%, and in October 2009, when it reached 10% as a consequence of the international financial crisis of the last year.

Trump considers the reopening of the economy urgent. “This country cannot remain closed and blocked for years”, he had said Thursday. During the interview this Friday, he added: “People are ready to go out now. We have to open safely ”.

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Coronavirus in the US: 20.5 million lost their jobs in April and unemployment rose to 14.7%, the highest number since the Great Depression

April unemployment rate in the US may be worst since the Great Depression

Hispanics are most affected by unemployment due to COVID-19 in the United States

Another 3,200,000 people applied for unemployment benefits in the US: the total reached 33.5 million since the start of the pandemic

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