Mnuchin says jobless numbers will ‘get worse before they get better’, unemployment may have hit 25%
Treasury Secretary Steven Mnuchin speaks during the daily briefing on the novel coronavirus, COVID-19, in the Brady Briefing Room at the White House on April 2, 2020, in Washington, DC.
Mandel Ngan | AFP | Getty Images
WASHINGTON — Treasury Secretary Steven Mnuchin acknowledged Sunday that the U.S. unemployment rate may have already reached 25% as the administration works to reopen the economy amid the coronavirus pandemic.
“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.”
The real unemployment rate, which includes people who are not looking for work or are underemployed, already stands at 22.8%, …continued .
[Source: CNBC News]