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US unemployment may exceed 20% in May

Mon May 25, 2020
watermark Economic news

White House economic adviser Kevin Hassett said the US unemployment rate could be over 20% in May amid a coronavirus pandemic. The politician also suggests that in June unemployment will be even higher, after which it will begin to decline at a slow pace.

«Forecasts would be more optimistic if the coronavirus vaccine were certified in July,» Hasset said, noting the detrimental effects of the pandemic on consumer activity and markets.

In April, 20.5 million Americans lost their jobs, and unemployment rose to 14.7%. Such indicators have become maximum since the Second World War. Since the beginning of the introduction of quarantine measures and the closure of enterprises and shops, about 38.6 million applications for unemployment benefits have been submitted.

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