Citing recent job reports, President Donald Trump's economic adviser Stephen Moore said the "v-shaped" economic recovery from the global coronavirus pandemic is "still on course."
"We have regained 9.2 million jobs in three months; we've regained about 40-45% of the jobs that were lost," Moore told host John Catsimatidis on "The Cats Roundtable" on WABC 770 AM-N.Y.
"So, we still have a lot of work to do, John, but this was an indication that the V-shaped recovery from the pandemic that Larry Kudlow and others have been talking about is still on course."
Moore, noting the 1.8 million jobs added in July were the third most in a month in U.S. history, said Trump has a case to make before the November elections, particularly with the return of manufacturing jobs.
"We were losing those jobs before Trump became president," Moore said. "It was Barack Obama who said the only way those manufacturing jobs would come back was with a magic wand. No! It's because of better trade policies, better tax policies, better regulatory policies that have made America a better place to do business.
"We were losing manufacturing jobs from lower-price competition from China. But now that Trump is getting tough with them, we're starting to see manufacturing leave places like Mexico and China and coming back to the United States. That's a positive story that Trump should be talking about in the months ahead."
Still, though, Moore said a full-on Trump economy is still a ways away.
"I think it's going to take a while; I think it's at least a year before we really feel like we've got the economy back firing on all cylinders," Moore said.
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