The Bureau Of Labor Statistics reported today that the economy lost 20.5 million jobs in April alone, and the unemployment rate rose to historic levels not seen since reporting started in January 1948 to 14.7 percent, not only did the unemployment rate rise by 4.7 percent from March, but job loss reported in March jumped dramatically which was only 700,000 at the time.
The number of people unemployed thanks to COVID19 rose sharply to say the least by 8 million, going from 15.9 million people in March to 23.1 million people in April, coinciding with the more than 33 million unemployment claims filed in over 7 weeks so far.
[…] due to a significant rise in COVID19 cases, the last major job loss was seen in April 2020 when 20.5 million jobs were lost, and the unemployment rate was 14.7 percent in the first full month of the […]
[…] of those unemployed was at 9.5 million, it’s far better than April 2020 where job addendum were 20.5 million in the negative with 14.7 percent unemployment, but still above pre-pandemic levels of 3.5 percent and 5.7 million […]