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United States President’s chief adviser to the economy, Kevin Hasset, warned that the unemployment rate could hit 20% in May, a value unprecedented since the Great Depression of the 1930s.
“Looking at the arrival of applications for unemployment benefits, it seems that we are likely to approach 20% in May and June,” said the economist in an interview with CNN.
“In June, the unemployment rate may be between 16 and 20%, a very high figure that we have not seen since the Great Depression,” added Kevin Hasset, who also drew attention to the foreseeable sharp drop in Domestic Product values. Stupid.
“Looking at the CBO numbers [Departamento do Orçamento no congresso, que apresenta previsões e estatísticas independentes], the numbers for the fall in the second quarter point to a contraction of 40%, “added the economist.
Interrupted by the journalist to clarify whether the contraction of the world’s largest economy was going to register a value of 40% between April and June, Hasset replied: “Many of the Wall Street consultants predict a fall between -20% to -30 % second quarter and if we look at the CBO numbers, they are there, but what we should do is stop multiplying by four, because this is the annualized rate, and it seems a much higher number than it really is. “
North America’s economy fell 4.8% in the first quarter, and second-quarter figures are expected to be much worse considering the spread of the pandemic and containment measures, which have frozen the economy.
Last week, the Labor Department indicated that in April 20.5 million jobs were destroyed in the country and the unemployment rate increased to 14.7%, when in March it was 4.4%.
The United States remains the world’s largest focus for covid-19 in absolute terms, with 79,058 deaths in 1,321,223 cases.
At least 212,534 people have been declared healed by US authorities.
Globally, according to a report by the AFP news agency, the covid-19 pandemic has already claimed more than 280,000 deaths and infected more than four million people in 195 countries and territories.
More than 1.3 million patients were considered cured.
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