China News Service, May 11 According to US media reports, on the 10th local time, U.S. Treasury Secretary Mnuchin admitted that the unemployment rate in the United States may have reached as high as 25%, and said that the unemployment rate may deteriorate further before it improves. Lifting the blockade may result in "permanent economic damage."
Figure: US Treasury Secretary Mnuchin. China News Agency reporter Chen Meng Tongshe
According to reports, as the number of weekly unemployed in the United States continues to increase, the debate about when and how to reopen has been going on for weeks. The employment report released by the US Department of Labor on the 8th shows that the unemployment rate in the United States in April was 14.7%.
Mnuchin said on the 10th that the unemployment rate may have reached as high as 25%, and said, "This situation occurs not because of poor economic conditions, but because our economic activities have stopped."
He also said, "The reported employment data may deteriorate before it can get better."
According to reports, public health experts have warned that restarting public life too quickly without proper safety regulations may lead to a sharp increase in the number of infections and deaths, which in turn will force states to shut down economic activities again, leading to further economic losses.
But Mnuchin said on the 10th, "I think there is a great risk of not reopening the economy." "We will reopen in a very thoughtful way to make people work safely again and keep them socially separated. "