CNBC Television VP Mike Pence: Coronavirus recovery aid talks will continue despite big May jobs gains
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Vice President Mike Pence told CNBC’s “Squawk on the Street“ on Friday that the White House will continue the recovery stimulus package negotiations with Democrats despite the positive signs of the latest jobs report, which showed a increase of 2.5 million jobs in the month of May.
Following a blowout jobs report, Vice President Mike Pence told CNBC on Friday that the Trump administration will have more “good faith” discussions with Democrats about coronavirus relief.
“Those discussions are ongoing,” Pence said when asked on CNBC’s “Squawk on the Street” if the surprisingly strong economic numbers ended the need to negotiate with Democrats on additional pandemic relief.
“We’re going to work in good faith to put the interests of the American families and American businesses first,” Pence said.
“But what’s absolutely essential about any additional recovery package is that we have the kind of pro-growth policies that President Trump has been advancing.”
Pence spoke shortly after the May jobs report showed a stunning rise in employment and a decline in the jobless rate, defying expectations and suggesting an economic recovery from pandemic is underway.
The U.S. added 2.5 million jobs in May and the unemployment rate fell to 13.3% from 14.7% in April. Economists surveyed by Dow Jones had been expecting nonfarm payrolls to drop by million and the unemployment rate to rise to 19.5%.
President Donald Trump immediately took a victory lap on the numbers, calling them “stupendous,” “joyous,” “STUNNING” and “INCREDIBLE” in a series of tweets.
Trump extended the celebration with a lengthy, wide-ranging speech in the Rose Garden later Friday morning.
Pence did a phenomenal job on CNBC, Trump said, by saying the recovery is “not going to stop.”
“He’s always attributing everything to me, but I’ll attribute this statement to him,” Trump said of Pence. “He said, ‘It’s not going to stop,’ because the numbers that you’re looking at don’t include all of those states that are closed.”
Despite the administration’s optimistic tone, its insistence on pursuing further aid indicates that there are lingering concerns about the economy even after May’s gains.
Pence said a payroll tax cut remains a necessity for sustaining an economic recovery and added that “we’re always mindful of inflation” in an era where the federal government has spent trillions of dollars as part of its efforts to blunt the impact of the virus.
More than 108,000 people in the U.S. have died from Covid-19 and more than million cases have been counted, according to data from Johns Hopkins University. Although hot spots like New York City have been posting steady declines in new cases and hospitalizations, U.S. cases have been on a gradual rise since Memorial Day.
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