The US National Economic Council director, Larry Kudlow opinioned in the shortly released April employment result that devastation created by coronavirus is temporary. In the report, it was found that 20.5 million jobs were lost. On the other hand, unemployment reached 14.7%.
Watch: Larry Kudlow’s Opinion about Economy
Kudlow lends helping hand to the workers by promising them there will be close interaction between the company and their workers. That is a piece of positive news for the ordinary people who lost their working platform due to the lockdown restrictions.
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“Inside the numbers is a glimmer of hope, 80% of it was furloughs and temporary layoffs. That, by the way, doesn’t assure that you will go back to a job, but it says strongly that the accord between the worker and the business is still intact. I think, hopefully, that has something to do with the $3 trillion of assistance, including the payroll protection plan.” commented Larry in an interview on ABC’s “The Week” today morning.
Being the economic advisor of President Donald Trump, Kudlow said that no more negotiations over coronavirus relief package would be there until late May or early June. He also added that the administration is on a wait-watch approach towards the pandemic.
He admits the fact that re-openings will have a delay. However, they will be able to put an end to the rising number of job losses.