U.S. Loses Over 20 Million Jobs, Unemployment Rises to 14.7 Percent

The economic devastation wrought by the coronavirus has finally shown its scale in the government’s monthly reporting—U.S. employers cut 20.5 million jobs from mid-March to mid-April, while the nation’s unemployment rate rose to 14.7 percent as much of the country shut down. The worst employment report on record reveals

how broad the damage is to the labor market, even as weekly first-time unemployment claims show millions more displaced workers have filed for benefits since the data was collected.

Leave a Reply

Your email address will not be published. Required fields are marked *