The US is predicted as heading for an unemployment rate comparable to the levels registered during the Great Depression of 1929 – 1939, as it struggles to deal with the fallout from the novel coronavirus pandemic.

“Around 2008, we lost 8.7 million jobs and the whole thing. Right now, we’re losing that many jobs about every 10 days,” said Kevin Hassett, President Donald Trump’s economic adviser, on ABC’s “This Week” on 26 April.
The adviser recalled that during the Great Depression, unemployment rate peaked at about 25 per cent, while during the Great Recession of 2007- 2009 it took roughly 10 months for new unemployment claims to spiral as high as they currently have in under a month.

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