Chance for Increased Unemployment After COVID-19

The U.S. unemployment rate could increase to 20 percent if urgent coronavirus-related measures are not taken, according to the nation's Treasury Secretary.

March 18, 2020

March 18, 2020—The U.S. unemployment rate could reach 20 percent due to the coronavirus if Congress does not pass a $1 trillion coronavirus stimulus package, reported the New York Post.

According to the report, Treasury Secretary Steven Mnuchin has been pushing for Republican lawmakers to pass the bailout package that would include checks to Americans facing financial hardship.

Mnuchin was not issuing an economic forecast but showcasing the potential risks.