Watch: Mnuchin and Caranza testify on small-business aid.

We remain committed to working together until every American gets back to work as quickly as possible. America’s economy continues to recover from the challenges posed by Covid-19. For the second month in a row, the jobs report vastly exceeded forecasts with a record of nearly five million jobs. This brings the two-month gain to approximately eight million jobs. While unemployment rate is still historically high, we are seeing additional signs and conditions of improvement. We are in a strong position to recover because the Trump administration worked with Congress to pass legislation on an overwhelmingly bipartisan basis and provide liquidity to workers and markets in record time. In particular, the P.P.P. is keeping tens of millions of employees in their jobs. Economic impact payments are helping millions of families. We are monitoring economic conditions closely. Certain industries such as construction are recovering quickly, while retail and travel are facing longer-term prospects. I look forward to these continued bipartisan efforts. A next phase of relief should extend the P.P.P. but on a more targeted basis for smaller companies and those that are especially hard hit, such as restaurants, hotels and other travel and hospitality business.

Article source: https://www.nytimes.com/2020/07/17/business/watch-mnuchin-and-caranza-testify-on-small-business-aid.html