June 4, 2020 / 2:01 PM / a month ago

U.S. Labor secretary: Jobless rate can dip below 10% by year's end

U.S. Labor Secretary Eugene Scalia addresses the daily coronavirus task force briefing at the White House in Washington, U.S., April 9, 2020. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) - The U.S. unemployment rate, which economists expect hit 19.8% in May, should be able to drop below 10% by the end of 2020 now that workers side-lined by coronavirus-related shutdowns are returning to work, U.S. Labor Secretary Eugene Scalia said on Thursday.

In an interview with Fox Business Network, Scalia also said it was worth examining the idea of a bonus to encourage workers to come back to their jobs.

Reporting by Tim Ahmann; Editing by Susan Heavey

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