Unemployment hits 14.7%, the worst since Great Depression


In Kevin's an economic adviser to president Donald Trump thanks a senior adviser he said employment could hit twenty percent by June right the White House is telling Americans to brace for a period of great depression level unemployment this summer I have said a senior economic adviser to Donald president Donald Trump on Tuesday this last week the jobless rate United States could spike between sixteen and twenty percent by Jim that would be a startling spike from the current levels of four point four percent in would mark the highest unemployment since the nineteen thirties folks unemployment spiked to twenty five percent in nineteen thirty three according to US bureau of labor statistics he said the economic numbers between may and July will be as bad as anything we've ever seen he shared with CNN's poppy Harlow the big issue is the risk of the second wave right the Congressional Budget Office forecast is based on the assumption that social distancing requirements are drastically reduced during the second half of the year as this pandemic hopefully fades the risk is that the second wave infections forces stay at home orders to snap back derailing the economic recovery moody's investor services warned Tuesday that the renewed lockdowns would deal a severe harm to the economy it could quickly escalated to a deeper financial crisis wow deeper than what but by far on a scale and scope than the two thousand and eight financial crisis in fact has its finish the service said if there's another wave in September has it said the economy is going to take another hit for sure no I don't share these things to fear monger you I show these things to educate you because most the time what you're hearing is fake news and it's not giving you the truth it is meant for mind share with me years ago all progress begin and the truth is folks it's rocky and it's about to get

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