John Schnatter, the founder of pizza chain Papa John’s, on Monday praised President Donald Trump for his work on the economy ahead of the coronavirus pandemic.
“The problem with Trump right now – he’s created such a high hurdle. He had unemployment at 3.9 percent, right now its 7.9” even in a pandemic, Schnatter said Monday during an appearance on Newsmax TV’s “The Chris Salcedo Show.”
“Pretty good numbers. Trump’s numbers are as good as (Barack) Obama in a good situation. Thank God Trump had our economy rolling going the way he did going in on this, otherwise, we would have some really severe issues.”
The unemployment rate has fallen to 7.9 percent from 14.7 percent in April, and the U.S. has recovered 11.4 million jobs since the economic shutdown of March and April. Weekly job claims have been stuck at about 800,000.
Papa John’s stocks have gained 68.2 percent in the past six months despite the pandemic. Still, Schnatter thinks his company could see a dip over the next year.
“We could do no wrong over the last six months,” he said. “I think short term it helped us. I think the next 12 months is going to be extremely difficult for us.”
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