Mnuchin: Jobless Numbers Going To Likely Worsen

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FILE - In this Tuesday, April 28, 2020 file photo, a man looks at notices on the window of an unemployment office in Madrid, Spain. The coronavirus outbreak is straining social safety nets across the globe - and underlining sharp differences in approach between wealthy societies such as the United States and Europe. In Europe, the collapse in business activity is triggering wage support programs that are keeping millions on the job, for now. (AP Photo/Paul White, File)

WASHINGTON — Treasure Secretary Steven Mnuchin says the jobless numbers in the United States “are probably going to get worse before they get better,” but the bigger risk to the country is keeping businesses’ closed rather than states allowing some to reopen.

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Mnuchin spoke as most states begin to loosen their restrictions on businesses after extended shutdowns designed to slow the spread of the new coronavirus. He says that if re-openings are not allowed it would have permanent economic damage to the American public.

Another 3.2 million U.S. workers applied for jobless benefits last week, bringing the total over the last seven weeks to 33.5 million.

Mnuchin says that increased testing and the prospect of better treatments will give businesses and workers the confidence to reopen in a careful way. He says, ”you are going to have a very, very bad second quarter. And then I think you’re going to see a bounce-back from a low standpoint.”

Mnuchin spoke on Fox News Sunday.


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Chatzkal
Chatzkal
3 years ago

Of course, all my employees want to collect free money from government, so they refusing to work now, this whole thing is a scam