Coronavirus: Pandemic sends US jobless rate to 14.7pc

Sun Online Desk

9th May, 2020 12:39:01 printer

Coronavirus: Pandemic sends US jobless rate to 14.7pc

 

The US unemployment rate has risen to 14.7%, with 20.5 million jobs lost in April, as the coronavirus pandemic devastated the economy.

The rise means the jobless rate is now worse than at any time since the Great Depression of the 1930s, BBC reported.

Since the pandemic began, the US has suffered its worst growth numbers in a decade and the worst retail sales report on record.

Just two months ago, the unemployment rate was at 3.5%, a 50-year low.

The report from the Labor Department showed declines in every sector of the economy.

 


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