President Donald Trump held a press conference in the White House Rose Garden Friday afternoon to tout employment numbers for the month of May.
PRESIDENT DONALD TRUMP: We saved millions of lives. And now we’re opening and we’re opening with a bang. And we’ve been talking about the V. This is better than a V. This is a rocket ship. This is far better than a V. A V is wonderful. A V is this. They were talking about, will it be a V, a U, an L? They had no idea. And I was watching one of the shows, and I have great respect for the people. And they said, “Will it be nine million in job losses? What will the number be? Are they going to report record numbers? Will we break 20%? What will the number be?” And I don’t know, because we were in, and I don’t think we’re in that territory anymore. We were in unchartered territory. Nobody’s ever had a situation like that. So the number was nine million, and one of the people was going, “No, no. I think it’s going to be 10 million.” That’s 10 million negative, losses. And then somebody else said, “No, we think it’s going to be 8.7, 9.2.” Everyone was right around that number. This is… Great geniuses. And they are. I watch them all the time. And oftentimes they’re right.
Warren Buffet sold airlines a little while ago. He’s been right his whole life. But sometimes even somebody like Warren Buffet, I have a lot of respect for him. They make mistakes. They should have kept the airline stocks, because the airline stocks went through the roof today. And others did too. The whole market went through the roof. But they said nine million, nine million job losses, nine million. It’s what it’s going to be. Are we going to break 20%? Are we going to break it? And then the numbers came in and one of the folks that was reading the numbers said, “Wow, this is a great number. It’s only three million job losses.” And then reading it and say, “I don’t think I’m not reading this right. Let me look at it again. Wait a minute. This is three million gain almost.” Three million jobs gained. And then they shouted out, one of them, sort of semi shouted out. “Is this a typo?” I think it was probably the greatest miscalculation in the history of business shows.
In the history of business shows talking about Wall Street. And that’s okay. But one of the reasons we’re in this position is because we had such a strong foundation. So we were able to close our country, save millions of lives, open, and now the trajectory is great. Don’t forget. New York is barely included. And that’s one of our big ones. California is barely included, because they’re not open. And they should open. By the way, the mayor of Los Angeles wants to keep this thing closed for a long time. Look at what’s going on in Florida. It’s incredible. The job the governor of Florida has done. It’s incredible. The numbers they’re doing, you’ve got to open it up. And you do social distancing and you wear masks if you want.