(Bloomberg) -- Although U.S. employment will increase in the coming months, the jobless rate will remain elevated through the end of the year, said Robert Kaplan, president of the Federal Reserve Bank of Dallas.

“We’re on our way down right now,” Kaplan said Sunday in an interview on CBS’s “Face the Nation.” “We’re going to get positive job growth in June, July and from here. Even with that growth, we’re going to end the year with an elevated unemployment rate.”

Kaplan said the rate would end the year at 8% or more. The jobless rate fell to 13.3% in May, surprising economists who had widely expected it to keep rising as the effects of coronavirus-prompted shutdowns continued to ripple through the labor market.

The Fed forecast unemployment would fall to 9.3% in the last three months of the year in its quarterly economic projections released June 10. Kaplan said in May that the unemployment rate could peak at 20% in 2020.

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