When, in February, the US unemployment rate was at a minimum over the past 50 years, now its significant leap is noticeable.
In April alone, 20.5 million Americans lost their jobs in the United States, so unemployment in the country jumped to a record 14.7% compared with 4.4% in March, the Labor Department said.
Analysts on average expected a fall in jobs by 22 million and a jump in unemployment to 16% due to the coronavirus pandemic.
According to The Wall Street Journal, the first figure was estimated to be 21.5 million, while the second was also 16%.
In March, the number of jobs decreased by 870 thousand, and not by 701 thousand, as previously reported.
Moreover, in February, the unemployment rate in the country was at a minimum over the past 50 years – 3.5%.
“This is a very, very difficult situation, even for companies that have grown at a record pace earlier,” said Julia Pollack, an economist for employment at ZipRecruiter.
Last month, the loss of jobs in the healthcare sector amounted to 1.4 million, hotels and restaurants reduced their number by 7.6 million, retail stores by 2.1 million. Production enterprises laid off 1.33 million employees, construction companies – almost 1 million
The number of jobs in the private sector fell by 19.52 million, in the public – by 980 thousand.
It is noted that the layoffs affected mainly low-wage workers.
As reported, more than three million Americans lost their jobs in a week.
Recall that nearly 30 million Americans lost their jobs due to COVID