US unemployment could reach 25% as during the Great Depression, Treasury Secretary Stephen Mnuchin told Fox News.

"Unlike the Great Depression where you had economic issues that led to this, we closed down the economy," Mnuchin said on "Fox News Sunday." "The reported numbers are probably going to get worse before they get better. That's why we're focused on rebuilding this economy."

According to him, the tourism, retail and entertainment industries have become the “biggest component” of unemployment.

Mnuchin has predicted a "better" third and fourth quarter and a "great" 2021.

According to data released last week, the US unemployment rate was 14.7%.