Federal Reserve Projects Longterm Unemployment From Coronavirus Crisis

Even as California businesses are starting to reopen, economists
warn that the worst could be yet to come as far as unemployment.
The extra $600 per week unemployment benefit will be ending soon
and prospects for hiring are bleak as employers continue shedding
workers. In May, the monthly jobless rate dropped to 13.3 percent
from 14.7 percent, according to a Bureau of Labor Statistics report
released last Friday. But a temporary drop may not signal that the
economy is on the upswing just yet, economists said. Also, policy
makers are looking at how to reverse the more severe unemployment
rates among Blacks and other minority groups. In this hour of
Forum, we discuss unemployment and what could lie ahead for
workers.