The staggering U.S. unemployment rate reported by the government on Friday amid coronavirus lockdowns may get even worse, Treasury Secretary Steven Mnuchin said on Sunday.
“The reported numbers are probably going to get worse before they get better,” Mnuchin told the Fox News Sunday program.That shattered the post-World War Two record of 10.8% touched in November 1982.
Mnuchin indicated the White House was talking about more fiscal measures to ease the economic pain from the pandemic. But, Mnuchin said the federal government did not want to bail out states that were “poorly” managed.Reporting by Heather Timmons; Editing by Will Dunham
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