(KMJ0 – The nation’s unemployment rate hit 14.7% in April. That is the highest rate seen in the United States since the Great Depression. 20.5 million jobs vanished in the worst monthly loss on record.
The figures are evidence of the damage the coronavirus pandemic has done to the nation’s economy. The losses reflect what has become a severe recession caused by sudden business shutdowns in nearly every industry. And almost all the job growth achieved during the 11-year recovery from the Great Recession has now been lost in just one month.
