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Tags: scalia | economy | trump | coronavirus

Labor Secretary Eugene Scalia 'Optimistic' for Economy Recovery

Labor Secretary Eugene Scalia 'Optimistic' for Economy Recovery
Secretary of the Department of Labor, Eugene Scalia. (Samuel Corum/Getty)

By    |   Friday, 24 April 2020 02:41 PM

Labor Secretary Eugene Scalia Friday said he is "optimistic" that the United States can recover from the current economic situation than other downturns in the past. 

"Unemployment numbers are very high, much higher than we've seen in years past, but it is from a different cause," Scalia said on Fox Business' "Mornings with Maria."

"(It was) caused by a health crisis, not by problems in the underlying fundamentals. Our economy was exceptionally strong, even six weeks ago, and a lot of the fundamentals that we had then are in place. It is a matter of getting past this virus and reopening."

Scalia also said he's pleased that the Paycheck Protection Program has been given more funding in a bill President Donald Trump signed Friday. 

He said the administration also believes the enhanced unemployment benefit made available to millions of people was also important, but states will need careful administration of the money and make sure the money goes to people who don't have the opportunity to work. 

"Unemployment is not available for people who have been called back to their job, for example, so we will keep an eye on that, as well," said Scalia. 

Meanwhile, the additional infusion of cash into the small business loans is "so important" to their staying afloat, said Scalia. 

"The fact so many businesses eager to get into this program is promising," said Scalia. "It means that many more employees will have a chance to stay on the payroll and a chance to get back to work as we reopen the economy."

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Politics
Labor Secretary Eugene Scalia Friday said he is "optimistic" that the United States can recover from the current economic situation than other downturns in the past.
scalia, economy, trump, coronavirus
258
2020-41-24
Friday, 24 April 2020 02:41 PM
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