Washington outbreak economy Government Coronavirus Washington

April jobs data to show epic losses and soaring unemployment

Reading now: 936
www.clickorlando.com

WASHINGTON – The economic catastrophe caused by the viral outbreak likely sent the U.S. unemployment rate in April to its highest level since the Great Depression and caused a record-shattering loss of jobs.

With the economy paralyzed by business closures, the unemployment rate likely jumped to at least 16% — from just 4.4% in March — and employers cut a stunning 21 million or more jobs in April, economists have forecast, according to data provider FactSet.

If so, it would mean that nearly all the job growth in the 11 years since the Great Recession had vanished in a single month.

Yet even those breathtaking figures won’t fully capture the magnitude of the damage the coronavirus has inflicted on the job market.

Read more on clickorlando.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA