Financial Forecasts Bleak As World Weighs Reopening Vs. Virus Risks

The video discusses the economic impact of COVID-19, highlighting a UN report predicting a 3.2% global economic shrinkage in 2020 with a slow recovery in 2021. It also covers Goldman Sachs' warning that US unemployment could peak at 25%, comparable to the Great Depression, based on government statistics and new data sources. The April Jobs report showed a surge to 14.7% unemployment, with Treasury Secretary Steven Mnuchin suggesting the rate might be closer to 25% due to uncounted losses.

What percentage is the global economy expected to shrink by in 2020 according to the United Nations?

• 2.5%

• 3.2%

• 4.0%

• 5.1%

What is the expected recovery pattern for the global economy in 2021 as per the United Nations report?

• Immediate recovery

• No recovery

• Gradual recovery

• Rapid recovery

According to Goldman Sachs, what is the predicted peak unemployment rate in the US?

• 20%

• 30%

• 22%

• 25%

What was the US unemployment rate reported in April?

• 12.5%

• 14.7%

• 18.0%

• 16.3%

Who suggested that the actual US unemployment rate might be closer to 25%?

• Federal Reserve Chair

• President

• Treasury Secretary

• Labor Secretary