White House economic adviser Kevin Hassett told CBS News he expects the unemployment rate to climb past 20% due to the economic fallout from the coronavirus pandemic, predicting that May or June will be the high point for job losses.
Said Hassett: “Right now, looking across the U.S., there are more than 30 million people that are getting initial claims from unemployment insurance, and that’s the biggest negative shock to the jobs market that we’ve seen since World War II.”
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