White House sees jobless rate hitting 16% or higher in April over coronavirus

Kevin Hassett, Chairman of the Council of Economic Advisers

The US unemployment rate is likely to hit 16% or higher in April, and "really big thoughtful policies" will be needed to rebuild confidence, a White House adviser says.

"I think the next couple of months are going to look terrible," White House economic adviser Kevin Hassett told reporters on Sunday, adding, "You're going to see numbers as bad as anything we've ever seen."

US Treasury Secretary Steve Mnuchin said he expected the economy to start improving shortly after the country comes out of lockdown.

"As we open up the economy in May and June, you will begin to see the economy bounce back in July, August, September. And my expectation is that you'll see an increasing rate of growth in those three months," he said.