Unemployment soars to 14.7 percent, worst rate since Great Depression
20.5 million jobs vanished in the worst monthly loss on record
•
May 8, 2020, 12:09 PM
•
Updated 1,583 days ago
Share:
//hudsonvalley.news12.com/utilityblock/512429/test?clienttype=container.json&contenttype=text%2fhtml
WASHINGTON (AP) - The U.S. unemployment rate hit 14.7% in April, the highest rate since the Great Depression, as 20.5 million jobs vanished in the worst monthly loss on record. The figures are stark evidence of the damage the coronavirus has done to a now-shattered economy. The losses reflect what has become a severe recession caused by sudden business shutdowns in nearly every industry. Almost all the job growth achieved during the 11-year recovery from the Great Recession has now been lost in one month.
JOBS AND UNEMPLOYMENT DATA:
PHOTOS: The impact of COVID-19 around the world:
More from News 12
2:09
Emergency sewer repair project in Greenburgh stinks – but it’s necessary, officials say
1:57
Chilly morning, pleasant afternoon Sunday in the Hudson Valley
1:58
Residents learn more about $12.9M facelift proposal for Nanuet Public Library
0:48
Rain doesn't damper celebration at 13th annual Italian Feast and Festival in Tappan
0:53
Nearly $2 million to fund intelligence center, body cameras for Orange County law enforcement
0:29
