Coronavirus: 20% of US could become unemployed if government doesn't act fast, treasury secretary warns
Coronavirus: 20% of US could become unemployed if government doesn't act fast, treasury secretary warns NewsColony The US could see an unemployment rate of 20 per cent because of coronavirus , Treasury Secretary Steven Mnuchin has warned. According to Bloomberg News , Mnuchin outlined the devastating economic impact in a closed-door meeting with Republican senators. He outlined the numbers as a worst-case scenario and urged lawmakers to take swift economic action to see it off. Download the new Independent Premium app Sharing the full story, not just the headlines Download now Several layoffs have already been made across the country as businesses have closed and society has near- shuttered in response to the global coronavirus pandemic. A Treasury Department spokeswoman told Bloomberg that Mnuchin used ‘several mathematical examples’ in the meeting with senators ‘but he never implied this would be the case’. His comments came as...