The White House suggested when US unemployment reaches bottom

The unemployment rate in the United States against the backdrop of the coronavirus pandemic will approach the bottom in May-June and will exceed 20%. The reported reference to the statement of the White House economic adviser Kevin Hassett.

“Yes, this is roughly what we expect. I expect that it will be more than 20%, unfortunately,” he said on CBS, commenting on the relevant issue.

US unemployment data for April, posted on May 8, showed that it had updated the record since 1940 and jumped to 14.7% from March 4.4%, while the number of jobs in non-agricultural sectors of the economy fell by a record 20. 5 million.

The US Department of Labor provides monthly statistics on unemployment in the country since 1948. Prior to this, the agency posted only annual data.

According to them, in 1933, during the Great Depression, US unemployment reached an absolute maximum of 24.9%.

If we focus on the monthly data of the department since 1948, then the maximum unemployment rate in the country was noted in November and December 1982 – 10.8%.

However, the National Bureau of Economic Research (NBER) has published monthly statistics since 1929, and, according to its data, unemployment in the United States was at 14-15% in May-July 1940, and in May 1933 it was 25.6% .

The Ministry of Labor provides monthly statistics on the number of jobs in non-agricultural sectors of the economy since 1939, and the previous record of decline was recorded in September 1945. Then it was recorded a decline of 1.959 million jobs.

The agency added that hourly wages in the US in April rose by 7.9% in annual terms and amounted to $ 30.01. In monthly terms, it increased by 1.34 dollars.