Global recession begins: A FIFTH of US workers have already lost wages due to coronavirus

Treasury Secretary Steven Mnuchin has reportedly warned that the US could see an unemployment rate of 20 per cent as the coronavirus plunges the economy into a recession. On Tuesday, it was revealed that a global recession has already begun due to the spread of COVID-19 as major companies begin laying off employees worldwide and a fifth of US workers say that they have already lost wages due to the crisis.