White House economic adviser says unemployment rate could rise to 20% in May

[mystery-ak]

White House economic adviser says unemployment rate could rise to 20% in May
by Katherine Doyle
 | May 08, 2020 11:10 AM



Top Trump economic adviser Kevin Hassett estimates that next month's unemployment rate could go even higher, possibly hitting "around 20%."

Hassett, in an interview with CNN, called Friday's record unemployment numbers "heartbreaking," but he was buoyed that so many who had lost their jobs thought they would return to work, saying it “surprised the heck" out of him.

"Almost everybody that is like a new unemployed person, like 18 million of them, said that they expected to be rehired by their employer," he said, adding, "Prophecies like that can be self-fulfilling."

He continued, "The fact that all these folks are saying, you know, 'We expect that we're going to get back to work,' means that there's a chance, at least, that we have sort of this positive equilibrium where people are optimistic because other people are optimistic."

more
https://www.washingtonexaminer.com/news/white-house-economic-adviser-says-unemployment-rate-could-rise-to-20-in-may

[catfish1957]

Forced dim shutdown are associated carnage are doing their best to turn Trump into Hoover II. 

[Applewood]

It's probably 20% already.  Maybe it has been since March at least.  Never trust government statistics.