National Economic Council Director Larry Kudlow appears on Fox Business to discuss today’s report on jobs from the Bureau of Labor and Statistics.
The estimated unemployment rate jumped to 14.7 percent. Kudlow brings up a good point: allow people to take a tax deduction for COVID-19 expenses.
It is hard to look at employment numbers like this because behind every data point is a person or family who have been compromised by the lack of a job. According to the Bureau of Labor Statistics (BLS) total nonfarm payroll employment fell by 20.5 million in April, and the unemployment rate rose to 14.7 percent.
The changes in these measures reflect the effects of the COVID-19 mitigation and the economic efforts to contain it. Employment fell sharply in all major industry sectors, with particularly heavy job losses in leisure and hospitality.
In April, employment in leisure and hospitality plummeted by 7.7 million, or 47 percent. Almost three-quarters of the decrease occurred in food services and drinking places (-5.5 million). Employment also fell in the arts, entertainment, and recreation industry (-1.3 million) and in the accommodation industry (-839,000). (read more)
Earlier today President Trump met with Texas Governor Greg Abbott to discuss ongoing efforts to combat COVID-19. During the press availability President Trump took multiple questions from the pool. [Video and Transcript Below]
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[Transcript] – THE PRESIDENT: Thank you very much. It’s a great honor to have Governor Greg Abbott with us. He’s a very special governor. He’s a done a phenomenal job. Texas is — well, it’s sort of like the U.S. We were both booming, and now it’s still booming, but it’s going to be booming at the highest level very soon, I project.
GOVERNOR ABBOTT: Exactly.
Today the Texas Supreme Court ordered the release of jailed salon owner Shelley Luther, just hours after Texas Governor Greg Abbott issued a retroactive order eliminating punishment for violating stay-at-home orders.
“Throwing Texans in jail whose biz’s shut down through no fault of their own is wrong,” Mr. Abbott tweeted. “I am eliminating jail for violating an order, retroactive to April 2, superseding local orders.” He added, “Criminals shouldn’t be released to prevent COVID-19 just to put business owners in their place.”
Moments later a tearful and thankful Shelley Luther was released from jail and delivered remarks. [Video prompted to 05:08]
White House Press Secretary Kayleigh McEnany will be holding a press briefing today at 4:00pm from the Brady Room. [Livestream Options Below]
White House Livestream Link – Fox Business Livestream – RSBN Livestream Link
Senior economic adviser to President Trump, Kevin Hassett, discusses the latest data showing over 20 million people have lost their jobs due to the Wuhan Virus. Hassett notes the administration is ready for a phase-4 financial package if necessary; but waiting to measure the impact of states beginning to reopen.
It doesn’t come as a shock but it is ridiculous in the extreme. A Dallas County Texas salon owner has been sentenced to a week in jail for defying the order to keep her business closed. “I couldn’t feed my family and my stylists couldn’t feed their families” Ms. Shelly Luther testified. The court didn’t care.
The stakes are escalating daily as economic desperation takes over and the oppressive hand of the authoritarian government officials refuse to loosen their grip on their new found power over the population. Confrontation is likely to get much worse quickly.
TEXAS – A Dallas salon owner will spend a week in jail after she was found in contempt of court Tuesday for violating a court order to close her salon during the coronavirus pandemic.
In addition to the jail time, Shelley Luther was fined at least $3,500 for continuing to operate her business, Salon à la Mode, in violation of a temporary restraining order issued against the business.
Today President Donald Trump tours the Honeywell manufacturing facility and delivers remarks about mask production in Arizona. Honeywell’s facility is making millions of N95 masks for the U.S. government. Anticipated start time 4:30pm ET
UPDATE: Video Added
Joint Base Andrews pressers are not as good as Chopper pressers, but they’re close. President Trump impromptu remarks departing Andews AFB. [Video and Transcript]
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[Transcript] – THE PRESIDENT: Thank you very much. I’m going to Arizona. We’re going to see Honeywell. They’ve done a fantastic job on many different fronts on the pandemic, and we’re going to pay our respects and also see the great people of Arizona.
Okay. Go ahead.
Q Mr. President, with these new projections, a lot of people do want the country to reopen quickly. Are you willing to accept these new projections that show that many more people will die and — with interaction?
President Trump delivers remarks to the media as he prepares to depart the White House for a trip to Arizona. [Video and Transcript Below]
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[Transcript] – THE PRESIDENT: Hello, everybody. So, I’m leaving for Arizona. We’re going to be at the Honeywell plant, which is doing great work for us. And it’ll be, I think, a great day. I love Arizona.
Go ahead, please.
Q What happened in Venezuela, sir? Apparently a couple of Americans were detained.
THE PRESIDENT: I just got information. Nothing to do with our government, but I just got information on that.