Pandemic Causes Loss Of 20,500,000 Jobs In US, Unemployment At 14.7 Percent – Analysis

As expected, the April jobs report showed a catastrophic hit to the labor market stemming from the pandemic. The economy lost another 20,500,000 jobs in April after losing 870,000 jobs in March. This is an order of magnitude higher than any previous two-month decline on record. The unemployment rate jumped to 14.7 percent, up...