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President Donald Trump is expected to deliver remarks Thursday after strong jobs numbers came out and the number of confirmed coronavirus cases surged amid reopening efforts.
Thursday’s jobs numbers showed a gain of 4.8 million jobs in June, and the unemployment rate fell to 11.1% as the U.S. continues its reopening efforts, according to the Labor Department.
The strong jobs report comes after the United States on Wednesday reported more than 50,000 new coronavirus cases in a single day, setting a new record for single-day increases as outbreaks worsen in a number of states and prompting officials to rollback or pause reopening efforts. The U.S. has more confirmed cases than any other country in the world.
The coronavirus pandemic has ravaged the economy, shuttering small businesses nationwide and leaving millions of Americans unemployed.
Trump is expected to sign a bill extending the Paycheck Protection Program, a federal government program that provides forgivable loans to small businesses heavily impacted by the coronavirus pandemic.
In a unanimous vote, the Democratic-led House on Wednesday passed the bill, which had already been approved by the Senate, sending it over to the White House.
The program was originally set to end Tuesday, but the bill extends the deadline to Aug. 8. Congress created the program as part of the $2 trillion pandemic rescue package passed in March.
The outbreak has spread to dozens of countries, with more than 10.7 million confirmed cases worldwide and over 516,726 deaths, according to data from Johns Hopkins University. The U.S. has had at least 2.6 million cases and 128,062 deaths, according to the latest tallies.
— CNBC’s Jacob Pramuk and Will Feuer contributed to this story.
