U.S. Treasury Secretary Stephen Mnuchin made a disappointing forecast: the unemployment rate in the country will continue to rise.
“These numbers are likely to get worse before they start improving”, – he said.
In April, the unemployment rate rose to 14.7%. Even after World War II, it was 10.8%.
Mnuchin said the White House was talking about tougher financial measures to ease economic losses caused by the pandemic. At the same time, he doesn’t want to save the states that are not doing well on their own. It’s an interesting approach to the crisis and helping the country.