White House: the US labor market will begin to stabilize in June

In April, 43 States recorded record unemployment rates, with Nevada the hardest hit.

The white house expects June to be a turning point in the employment situation in the US labor market. White House adviser Kevin Hassett said this on Friday in an interview with CNN, according to Reuters.

According to Hassett, in May, the negative trends in terms of unemployment growth will continue. Still, in June, mass unemployment caused by the coronavirus pandemic may stop growing and even begin to decrease.

“We will see horrible numbers at the end of May, and then I think that in June everything will start moving in the right direction, “Hassett said, adding that, in his opinion, the fourth economic stimulus bill, designed to reduce the negative impact of the pandemic on the economy, will be adopted “soon.”

Meanwhile, the Labor Department on Friday reported that the unemployment rate in all 50 States and the district of Columbia rose in April, while overall employment fell due to restrictive measures imposed by authorities in an attempt to reduce the rate of spread of the virus.

The Bureau of labor records reported that 43 States recorded record unemployment rates last month. The hardest hit was Nevada – the state with the most significant number of foodservice businesses and developed hospitality industry. The Nevada unemployment rate rose 24.2 percentage points to 28.2% in April. This is almost double the national unemployment rate, which was 14.7% in April.