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Trump held a News Conference with reporters at the white house. He reacted to the latest jobs report, which showed the u. S. Economy a added 4. 8 million jobs, while the Unemployment Rate fell to 11. 1 in june. The president also addressed the administrations response to the recent surge in covid19 cases. He was joined by treasury secretary Steven Mnuchin and White House NationalEconomic Council director larry kudlow, who answered questions on the economy and additional Coronavirus Relief legislation. Pres. Trump thank you very much, everybody. This is mostly an economic conference. We have Steve Mnuchin with us, larry kudlow. I would like to just announce the spectacular news for American Workers and American Families and for our country as a whole. Theres not been anything like this. Recordsetting. It was just put out that the United States economy added almost five million jobs in the month of june, shattering all expectations. I was watching this morning, and the expectations were much lower than that. The stock market is doing extremely well, which means to me jobs. This is the largest monthly jobs gain in the history of our country. The Unemployment Rate fell by more than 2 Percentage Points, down to just about 11 . Were down to the 11 number. We started at a number very much higher than that. As you know, we broke the record last month. We broke it again this month. In an even bigger way. This news comes on top of mays extraordinary jobs report. Which was revised upwards, by the way, to 2. 7 million jobs. It was 2. 5 million. That was last month, that was a record setter. But it actually got better. We revised it, it was revised upward to 2. 7 million jobs for a combined total of 7. 5 million jobs created in the last two months. Thats a record by many millions of jobs. So its 7. 5 million jobs created in the last two months alone. Todays announcement proves that our economy is roaring back. Its coming back extremely strong. We have some areas where were putting out the flames of this fires, thats working out well. Were working closely with governors. I think its working out very well. I think youll see that shortly. In june, we added 2. 1 million leisure and hospitality jobs, 740,000 retail jobs, 568,000 education and health care jobs, 357,000 service jobs. These are all historic numbers. And 356,000 manufacturing jobs. And manufacturing looks like its ready to really take off at a level its never been before. A lot of that has to do with our trade policy because were bringing manufacturing back to our country and these take a long time to get to get going. And theyre now going. So these are historic numbers. Im really happy when i see 356,000 manufacturing jobs, a small number compared to what it will be soon because of our great trade deals. AfricanAmerican Workers really happily for me made historic gains. With 404,000 jobs added last month alone. And thats a record. And the second largest jump will be last month and what we have, you add the two months together, 700,000 jobs for africanAmerican Workers. Added in the last two months. Thats a record by a lot. Likewise, hispanic employment is up by 1. 5 million jobs. A record by a lot. Hispanic employment up up 1. 5 million jobs. Three million more women were employed in the month of june. A record. Never had a number like that. Workers with a High School Education or less made the biggest strides of all. So people that have just a High School Education or have less than a High School Education with unemployment, those without a High School Diploma dropped a full 3. 3 Percentage Points, the largest drop in recorded history. 80 of Small Businesses are now open and we think we will have good numbers in the coming months because others are opening, and especially as we are putting out the flame. New Business Applications have doubled since late march. Its a number that is not even thinkable to achieve this early into a pandemic. The latest i. S. M. Manufacturing report rose 10 Percentage Points with new orders jumping a remarkable 25 Percentage Points, all a record. Consumer confidence, which is great, thats a great number to me because that means confidence is really good. If you dont have good Consumer Confidence, its like life, if you dont have confidence, youre not going to do very well. It has risen since 12 points in april and job expectations have hit the alltime high. So, think of that for a second. With all we go through, with all of the trials and tribulations that we read about every night, much of it totally fake news unfortunately and if the consumer didnt get it, you wouldnt have good Consumer Confidence. We have Consumer Confidence risen 12 points since april. Alltime high. Retail sales surged 18 . Retail sales went up an astonishing 18 in may. Thats the largest increase in the history of our country. Thats a tremendous number. 18 . The number of what it means to me is jobs. The number of unemployed americans reentering the work force rose by 43 and fewer are dropping out of the labor force as before and the crisis is being handled. Something to think about. China was way early. And they are getting under control just now. And europe was way early and they are getting under control. We followed them with this terrible china virus. And we are likewise getting under control. Some areas were very hard hit, are now doing very well. We thought they were gone and they flair up and putting out the fires. Other places were long before us. And theyre now its got a life. And we are putting out that life because thats a bad life we are talking about. But all of this suggest that workers are confident about finding you a new job. The stock market is soaring with the best gains in 20 years. Second quarter the dow jones increased 18 . These are not numbers that people have heard about. Best in 33 years. S p 500 increased by 20 best since 1998 and nasdaq increased over 30 , the best since 1999 and 15 month if you look over a long period of time, a phenomenal number. But if you look since the election, we have gone up the dow went up close to 45 . The s p 500 went up 47 and nasdaq composite went up getting close to 100 . So these are numbers that are not numbers that other president s would have and wont have it. The only thing they can kill is a bad president or wants to raise taxes. If you raise taxes, your 401ks will drop down to nothing. This is not just luck but a lot of talent. All of this incredible news is the result of historic actions my administration has taken working with our partners in congress to rescue the u. S. Economy from a horrible event that was formed, took place in china and came here and they could have stopped it. They could have stopped it. Nobody likes to write that, but they could have stopped it. They know it and i know it. Through the Paycheck Protection Program we have extended over 520 billion in loans to nearly five million Small Businesses, saving and supporting the jobs of tens of millions of American Workers. This has been a tremendous success. Levels that nobody has ever seen before. But we saved all of those jobs and all of those Small Businesses and some will be Large Businesses soon perhaps. We also rushed urgently needed relief to millions and millions of hardworking taxpayers. And we are working on a phase four. We are working with congress. That work has started and Steve Mnuchin, talking about payroll tax cuts and more money being infused and comes back to us. Its all coming back. Coming back faster, bigger than possible. These are numbers not made up by me. We implemented a strategy to vanquish and kill the virus and protect americans at the highest risk while allowing those to safely return to work. Health experts continue to address the temporary hot spots in certain cities and counties and we are working very hard on that. The relationship with the governors is very good. We made a call mike pence made a call just yesterday and said what do you need . Not one governor needed anything. They dont need anything. They have all the medical equipment they can have. Thank you, u. S. Government. They have all of the ventilators. We are giving many ventilators and selling in some cases and giving where needed, but we are the ventilator king and now producing thousands of ventilators, thousands of ventilators a week. And we are helping other countries and other countries are desperately in need of ventilators. Business is now at 189 countries. That changes all the time. Last count was 189 countries and many of them dont have money and almost all of them dont have capacity to build a ventilator, which is hard to build, very complex, very expensive and very big. We have done an incredible job. We have Assembly Lines building ventilators and we are building thousands a week. All of these people are working with governors and local officials to restore best practices and thats what we have done. That includes face coverings, social distancing, testing and personal hygiene, wash your hands. State officials will decide how rapidly to open their economies. Thats largely up to them. If we see something thats egregious we have gotten involved. We would like to see churches open quickly and some of them dont want to do that. We got a great ruling from a judge in new york that they can happen. If these best practices are implemented, then the hot spots can be calmed quickly and we understand this horrible disease right now. We didnt disease at all. We closed it up. We would have lost millions of lives. We have done historic thing. We would have lost millions of lives and now opening it up and opening up far faster than anybody thought even possible and more successfully. As i said, you are going to have a fantastic third quarter, the likes of which nobody has ever seen before in my opinion. The good thing is the numbers will be coming out just prior to the election and people will be able to see those numbers. The Fourth Quarter likewise will be extremely good and from the standpoint of our country itself, next year will be historic. Next year is going to be an incredible year for jobs, the for companies, for growth. Things are happening like nobody would have thought possible. I do want to comment boeing is moving along in their process. It has been a very hard process and complicated process, but they have made tremendous, tremendous gains and they are going for approvals on the aircraft, 737 max. They are also starting to do some real business. So i just want to congratulate boeing. They have been through so much. I think it is probably the greatest company in the world. I used to say it was the greatest company in the world and then it ran through a very rough period of time. But boeing has made tremendous progress in a short period of time. And other companies i dont even have to talk about because they are all setting records, our Great Companies are setting records. I thank everybody for being here today. These are historic numbers at a time that a lot of people would have wilted, would have wilted, but we didnt wilt and our country didnt wilt and im honored to be your president. Thank you very much. [indiscernible chatter] secretary mnuchin we couldnt be more pleased with the results today again between this month and last month. That is about eight million jobs and people we put back to work because of the cares act and working with congress. I think as you know people thought we would have 30 Million People unemployed. Norm we never got to that. Eight million jobs are back. Our work wont be done until every single american who lost their job due to covid gets back to work. I thank the senate and the house working with us. Theres no question these programs are working. I want to thank them for extending the p. P. E. Its our priority when we get to the cares 4 bill in july, we will work with the house and senate on a bipartisan basis to repurpose that money. We have about 130 billion left. There are going to be a number of businesses particularly hard hit and looking to give those businesses additional money. Cares 4 will be much more targeted for the businesses that continue to need work. But there is no question that this is working. And we look forward to continuing this progress. Again, i think eight million jobs really extraordinary. Let me make one other comment. We are not Wearing Masks because we have been both tested. That is the only reason. But even with that, we did social distance and pleased to see you are Wearing Masks. I will let director kudlow make a few comments and then we will be happy to take questions. Mr. Kudlow just briefly underscoring these High Frequency indicators, difficult thing to do and havent had much experience with these pandemics, but i will say the mobility index is important. It is literally a realtime daily indicator and we are not seeing any declines and still strengthening, even in some of the southwestern states, which have difficult hot spots. Housing demand and housing surveys are just soaring. Automobile demand now expected to the third quarter, about 10 million plus production units. The tracking surveys look very strong. And the dow and fed survey, i dont recall it was in the president s notes, the dowfed survey which goes to the end of the month has not shown any declines. Now, it may. I am not going to rule that out. And i would say as a general matter these job numbers as good as they are erasing a third to a half of those who are unemployed. There is still a lot of hardship and heartbreak in these numbers. I understand that. And the economy is on its way back. We have a ways to go. I will however, continue to reference the Congressional Budget Office which is looking for a very Strong Quarter and second half and number of private surveys and private forecasters see the same thing on the vshaped recovery. 2021 can be a real bang year and get back to the peak levels of 2019. I believe we are well positioned and a lot more work to do that. I think we have a lot more work to do, i get that. As steven mentioned, well see how the policy discussions go later this month. Reporter mr. Secretary, are you concerned josie concerned to see new unemployment claims rising . We had 1. 4 million layoffs last week and that number is going up and not going down, are you concerned about that . Secretary mnuchin we are going to be concerned until every Single Person is back to work. When you look at these numbers, i think it is tough enough to predict economic numbers in normal times. In these times, you have to look at all these numbers in the entirety. So what i would say on that is there is a lag on the unemployment claims. I think you also know, many of these states are completely backed up. I would focus on the jobs numbers are the most accurate numbers. The trend of eight million jobs back, but having said that, im concerned until we get everybody back to work. Reporter obviously this is good news today, no question about it, but it is obvious that the crisis that is surging sunbelt states Record Number of cases nationally threatens all of these economic gains. Many states are throwing their reopenings into reverse. What additional actions is the administration going to take to stop that . Will the administration and will the president specifically call on americans to wear masks . And why dont we have rather than you guys celebrating good news that has already happened, why dont we have this Coronavirus Task force up here giving briefings on how to get it under control when it is obviously not under control as Anthony Fauci said this week. Secretary mnuchin im on the force, so i amk happy to answer a few of those questions. I cant comment on the schedule of briefings. Im not aware of that. The