The US economy is experiencing the biggest shock, which will affect unemployment.

"We're going to be looking at an unemployment rate that approaches rates that I think we saw during the Great Depression,” Kevin Hassett, the president's economic adviser said appearing on ABC's "This Week."

"Around 2008, we lost 8.7 million jobs and the whole thing. Right now, we're losing that many jobs about every 10 days," he said Sunday. "And so … the economic lift for policymakers is an extraordinary one.”

The unemployment rate peaked at about 25% during the Great Depression.