20.5 million US jobs were lost in April, driving unemployment rate to 14.7%. FMTNews Covid19 US Employment
A woman gets job application details in Illinois as US workers continue to suffer from devastating job losses.
The unprecedented collapse drove the unemployment rate to 14.7% – well beyond the peak hit in late 2009 during the global financial crisis – from 4.4% in March. The plunge in nonfarm payroll employment was the largest ever recorded since 1939, while the jobless rate was the highest and the biggest increase since 1948, the report said.
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