The government’s official jobs report on Friday is expected to be a chilling one, showing layoffs surged and unemployment rose to Great Depression levels in April.
New York Millions of Americans who are out of work won't need statistics to confirm what they already know: Their livelihoods have been hard hit by mass business closures during the coronavirus pandemic.
But the government's official jobs report, released Friday, will give one of the most comprehensive overviews of that economic fallout. By all accounts, it's expected to be a chilling report, showing layoffs surged and unemployment rose to Great Depression levels in April.
Over the past few weeks, economists have anxiously tracked weekly jobless claims, which count people filing for first-time unemployment benefits. Since mid-March, the number has grown to 30.3 million, or about 18.6% of the March labor force.Another 3 million initial claims are expected for the week ended May 2. The report is due at 8:30 am ET on Thursday.
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