White House Economist Says Unemployment Could Reach 20 Percent by June

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White House Economist Says Unemployment Could Reach 20 Percent by June

White House Senior Economic Advisor Kevin Hassett is warning Americans to brace for unemployment levels that rival the Great Depression. In an interview Tuesday, Hassett said he believes the unemployment rate in the U.S. could jump as high as 20 percent by early summer. If this spike in jobless claims comes to pass, it would represent the highest unemployment rate the country has seen since 1933 when it reached 25 percent.

Image via Flickr/Nicholas Lin

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