U.S. Unemployment Reaches 14.7%, Worst Since The Great Depression
The Labor Department said that 20.5 million jobs were lost, in the first full month of figures since the coronavirus crisis shutdown much of the U.S. economy. That is the greatest net loss of jobs on record.
“Those jobs will all be back and they will all be back very soon,” Trump said. “And next year we are going to have a phenomenal year.” “We are moments away from an historic jobs report,” said CNN’s John Berman said minutes before the figure was announced. But that is a more optimistic scenario than a number of economists, who believe that the recovery will be gradual, as different sectors gradually reopen. Millions more could be added to the rolls, an employers still shed from their payrolls.
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