U.S. Treasury Secretary Stephen Mnuchin warned that the U.S. unemployment rate could reach 20% due to the Coronavirus pandemic, CNN reported citing sources in the Senate.
According to the channel, Mnuchin made this assumption during his communication with Republican senators on Tuesday. It is reported that the head of the Ministry of Finance also expressed concern that the economic consequences of the Coronavirus pandemic may be worse than after the crisis in 2008.
In February, unemployment in the US was 3.5%.
On 11 March, the World Health Organization declared the outbreak of the new coronavirus COVID-19 a pandemic. More than 179 thousand people in more than 150 countries are already infected in the world, most of them have recovered, more than 7.4 thousand died.