Unemployment soars to 14.7 percent, worst rate since Great Depression

20.5 million jobs vanished in the worst monthly loss on record.

News 12 Staff

May 8, 2020, 12:15 PM

Updated 1,481 days ago

Share:

Unemployment soars to 14.7 percent, worst rate since Great Depression

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:
undefined
 


More from News 12