Mnunchin Criticized for Deeming Record Unemployment Claims ‘Not Relevant’
U.S. Secretary of the Treasury Steven Mnuchin is facing backlash over his recent reaction to the soaring jobless claims amid the coronavirus outbreak. On Thursday, Mnunchin conducted a phone interview with CNBC’s Jim…
U.S. Secretary of the Treasury Steven Mnuchin is facing backlash over his recent reaction to the soaring jobless claims amid the Coronavirus Outbreak.
On Thursday, Mnunchin conducted a phone interview with CNBC’s Jim Cramer and David Faber, where he referred to the unemployment rate as “not relevant.”
“We knew the jobless claims was not going to be a good one, but I am curious what your thoughts were when you saw that 3.283 million number this morning?” asked Faber.
Mnunchin responded with his opinion insisting the numbers — regardless of whether they’re “bigger” or “smaller” — are “not relevant.”
“To be honest with you, I just think these numbers right now are not relevant, whether they’re bigger or smaller in the short term,” Mnuchin said.
Mnunchin opted to turn the focus toward the $2 trillion stimulus package designed to cover unemployment payments for up to four months.
“Obviously, there are people who have jobless claims, and, again, the good thing about the bill is the president is protecting those people,” Mnuchin added.
See Mnunchin’s remarks below:
Shortly after the interview began circulating online, Mnuchin was met with criticism. Many have taken to Twitter to share their opinion of his remarks in comparison to the Trump administration’s previous focus when unemployment rates were low.