And some bad news..economics Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, predicts tomorrow’s jobs report will not reveal the true number of Americans who lost their livelihoods due to the coronavirus crisis. The Labor Department only includes those who are actively seeking work in their unemployment data, which leaves out many citizens who work in industries that are temporarily suspended. Kashkari believes the real unemployment figure for April is around 25% or ¼ of the population. Yet, he anticipates the jobs report to reflect an unemployment rate of about 16%. “I think it’s becoming clear that we are in for a long, gradual recovery, which is unfortunate, but I think we’re going to avert the depression scenario because policymakers are going to continue to be aggressive to fight that outcome,” the Fed president stated this Thursday.