Trump administration officials warn the coronavirus outbreak in the U.S. could cause the unemployment rate to reach 20%, according to two sources familiar with the discussion.
That estimated unemployment rate would be double the highest rate from the period around the Great Recession from 2007 to 2009, when it reached 10 percent in October 2009, according to the Bureau for Labor Statistics. Before then, the unemployment rate had not been that high since late 1982 through the first half of 1983 when it peaked at 10.8 percent.
The U.S. coronavirus outbreak that has intensified in recent days has prompted companies to lay off workers as health officials at the federal, state and local levels tell people to practice social distancing — not congregate in large groups and to work from home if possible — in order to help flatten the curve of its spread.
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