A senior Trump administration official told CNN that the release of today’s job report from the Department of Labor (DOL), which shows a drop in the unemployment rate, could allow Republican leadership to make the case to put more coronavirus relief on hold for now.
“Republicans generally want to be patient: There’s a lot of actual spending left to go out the door; the Fed still has trillions in leverage it can put on the table; and as states reopen, we need to understand what is going on in the economy and what new policies might be called for to best help individuals, families, and businesses. Later in July is the earliest possible window for potential legislative action,” the official said.
The United States added 2.5 million jobs during the month of May as businesses began to reopen. Additionally, the unemployment rate dropped to 13.3 percent from 14.7 percent in April, according to the report, a phenomenon that can be attributed to many states reopening their economies and sending people back to work, often against the advice from healthcare and policy professionals.
Both House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Chuck Schumer (D-N.Y.) argue that delaying a vote on coronavirus relief could be perilous for many Americans as the coronavirus pandemic continues to rage across the country.
“Now is the worst possible moment to take our foot off the gas,” said Pelosi.
Schumer, likewise, said in a statement: “With nearly 20 million people out of work and unemployment among African Americans increasing, now is not the time to be complacent or take a victory lap.”
Both Democratic leaders urged the Senate to approve the more than $3 trillion stimulus bill that House Democrats passed recently.
Alan is a writer, editor, and news junkie based in New York.