20.5 Million Americans Loss Jobs In April
Americans lost a record 20.5 million jobs last month, making April the largest single month of job losses since the Bureau of Labor Statistics began tracking the data in 1939. The unemployment rate soared to 14.7% in April. The last time American joblessness was that severe was the Great Depression. The losses in April is a result of the American economy’s self-imposed shutdown to prevent the spread of COVID-19. Analysts do believe that job growth could resume by Memorial Day as businesses in many parts of the United States reopen.