Tim Cook, chief executive officer of Apple Inc., smiles during a Senate Permanent Subcommittee on Investigations hearing in Washington, D.C., U.S., on Tuesday, May 21, 2013. Cook will face off against U.S. senators leveling accusations the iPhone maker has created a web of offshore entities to avoid paying billions of dollars in U.S. taxes. Photographer: Andrew Harrer/Bloomberg via Getty Images
California Governor Gavin Newsom today unveiled a new economic recovery task force that will be composed of more than 70 members including former Chair of the Federal Reserve Janet Yellen, Disney Executive Chairman Bob Iger, and Apple CEO Tim Cook. The task force will be co-chaired by philanthropist Tom Steyer and Newsom’s chief of staff Ann O’Leary.
CNBC reports the group will work to guide the state as it gets its economy back in gear as COVID-19 coronavirus-related shutdowns begin to ease in the coming months. The task force will meet twice a month through the end of the year.
California’s economy is the fifth-largest in the world and Newsom says a record 2.7 million Californians have filed for unemployment benefits in the last month.
The Newsom administration projects the unemployment rate could top records set during the 2009 Great Recession when close to 13% of Californian residents were unemployed.