Mnuchin says jobless numbers will 'get worse before they get better' — unemployment may hit 25%
The real unemployment rate, which includes people who are not looking for work or are underemployed, already stands at 22.8%."The reported numbers are probably going to get worse before they get better," he said.
"This is no fault of American business, this is no fault of American workers, this is a result of a virus," Mnuchin told Chris Wallace during an interview on "Fox News Sunday." "The reported numbers are probably going to get worse before they get better," he said, adding that "next year is going to be a great year."
In just over a month, the coronavirus has erased all job gains since the Great Recession, bringing the nation's decade-long economic growth streak to a grinding halt.according to the monthly employment report, released Friday by the Department of Labor. Earlier on Sunday, White House advisor Kevin Hassett told CNN's Jake Tapper that the U.S. unemployment rate could reach up to 20%.
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