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.