After weeks of record unemployment claims across the country, "we have seen a couple of indicators of some bottoming," ADP CEO Carlos Rodriguez told CNBC.
President Donald Trump said he believes China's handling of the coronavirus is proof that Beijing "will do anything they can" to make him lose his re-election bid.
The Covid-19 outbreak in China forced Tesla to stop manufacturing electric vehicles in Shanghai for more than a week in February and in the U.S. at the end of March.
"This drug makes a big difference, especially if you were worried about a second wave of infections after we reopened the economy," the "Mad Money" host said.
The Paycheck Protection Program, a major component of the administration's response to the coronavirus pandemic, is in its second round after its initial $350 billion funding was quickly depleted.