US labor secretary: Unemployment rate can get below 10% by end of year
Labor Secretary Eugene Scalia argues the many jobs lost to the coronavirus pandemic will come back quickly.
The U.S. unemployment rate could fall below 10 percent by the end of 2020 despite surging to 14.7 percent in April, Labor Secretary Eugene Scalia said on Thursday.
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"I think that we can get under 10 percent by the end of the year," Scalia told FOX Business' Stuart Varney. "I really do believe that as hard as this has been, for American workers and their families, it was always meant to be temporary. We had an extraordinarily strong economy."
The Bureau of Labor Statistics will release the May unemployment report on Friday.