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White House economic adviser Kevin Hassett said on CBS News' "Face the Nation" on Sunday that he believes the unemployment rate will surpass 20% and peak in May or June.

Why it matters: With April's jobs report showing a catastrophic 14.7% unemployment rate, this is the "biggest negative shock to the jobs market that we've seen since World War II," Hassett said.

  • The unemployment numbers are even worse in Hispanic and black communities, which had previously been experiencing record-low unemployment rates.

Yes, but: Hassett noted that while unemployment numbers match Great Depression levels, the driving forces are different.

  • "There are a lot of economic differences between right now and the Great Depression. Here we understand why the economy is slowing down, and we expect that we can reverse it, whereas in the Depression there were a lot of other things, a lot of policy errors and so on that made the whole thing drag out."
  • Hassett pointed out that the nonpartisan Congressional Budget Office forecasts that there will be a recovery in the second half of the year, a view that he says the Trump administration shares.

Go deeper: Unemployment rate soars to 14.7% in April

Go deeper

The statistics crisis

Illustration: Aïda Amer/Axios

If you don't know how broken something is, you're not going to be able to fix it. That's the crisis facing policymakers trying to repair a devastated economy without knowing the true degree to which the pandemic has hurt the country.

Why it matters: Some parts of what ails America, like the nascent mental-health crisis, are by their nature hard to measure. But other aspects of the recession, like the unemployment rate or national GDP, are foundational statistics upon which multi-trillion-dollar decisions are made.

5 hours ago - World

Defense Sec. Austin stresses U.S. commitment to Israel's security amid growing Iran tensions

Issei Kato/Reuters/Bloomberg via Getty Images

Secretary of Defense Lloyd Austin arrived for his first visit in Jerusalem amid nuclear talks in Vienna and growing tensions between Israel and Iran.

Why it matters: Austin met his counterpart Benny Gantz and will meet later with Prime Minister Netanyahu to discuss Iran and regional security issues.

"I was horrified": Leaders respond to footage of Black and Latino Army officer threatened at traffic stop

An Army officer is suing two Virginia police officers after he said they drew their guns and pepper-sprayed him during a traffic stop in December.

Why it matters: Footage of the incident has drawn widespread criticism from leaders and groups in the state. Caron Nazario, who is Black and Latino, is heard saying “I’m honestly afraid to get out," to which a police officer responds “Yeah, you should be," in a video from a body-worn camera.