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White House economic adviser Kevin Hassett said on CNN's "State of the Union" Sunday that it's possible the unemployment rate could still be in double digits by November's election, but "all the signs of economic recovery are going to be raging everywhere" by that time.

The big picture: Hassett said the unemployment rate next month will be "quite a bit higher" than April's rate of 14.7%, and likely "north of 20%." But he projected that June will be an "inflection point" and the unemployment rate will start to "trend down" after that.

  • Hassett noted that consumer hesitation about returning to public spaces, like stores, restaurants and entertainment events, may slow economic recovery even as shops and venues reopen.
  • “You’re going to be starting at a number in the 20s and working your way down," Hassett said. "So of course, you could still not be back to full employment by September or October.”
  • Peak unemployment during the Great Depression hit 25%, according to the best estimates available.

The bottom line: Last month's jobs report was by far the worst report in U.S. history as the economy shed a record 20.5 million jobs because of the coronavirus pandemic. Hassett cautioned that the worst is likely still to come.

Go deeper: Coronavirus is bringing economic suffering across the U.S.

Go deeper

Felix Salmon, author of Capital
Aug 13, 2020 - Economy & Business

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.
39 mins ago - World

Sudan's military places civilian prime minister under house arrest

Sudanese Prime Minister Abdallah Hamdok during a 2020 news conference in Khartoum, Sudan. Photo: Mahmoud Hjaj/Anadolu Agency via Getty Images

Sudan's civilian Prime Minister Abdalla Hamdok was put under house arrest and several other ministers were also detained Monday in what appears to be a military coup in the country, per local reports.

Why it matters: The arrests of the civilian faction in the Sudanese government came a day after U.S. envoy Jeffrey Feltman met with the head of the military faction of the Sudanese government General Abdul Fattah al-Burhan and warned him against staging a coup.

"Atmospheric river" swings Northern California from drought to flood

Satellite view of the bomb cyclone swirling off the coast of the Pacific Northwest and the atmospheric river affecting California on Oct. 24. Photo: CIRA/RAMMB

A series of powerful "atmospheric river" storms are delivering historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest — triggering widespread power outages and flooding.

Why it matters: The strong atmospheric river, packing large amounts of moisture, is causing Northern California to whiplash from drought to flood.