White House: US Jobless Rate Could Hit 25% Amid COVID-19
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(Worthy News) – The official U.S. unemployment rate linked to the coronavirus pandemic is already at 14.7%, but top White House officials said Sunday they expect it could reach 25% before the world’s biggest economy begins to improve.
“The reported numbers are probably going to get worse,” before improving in the second half of the year and into 2021, Treasury Secretary Steven Mnuchin told “Fox News Sunday.”
He said the jobless rate could hit 25%, while White House economic adviser Kevin Hassett told CBS News’s “Face the Nation” show that he is expecting a jobless rate “north of 20,” with millions more laid-off workers filing for unemployment compensation in May and June. [ Source: VOA News (Read More…) ]
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