The US jobs report for April brings sobering, if not unexpected news: The country has lost 20.6 million jobs since mid-March, resulting in an unemployment rate of 14.7%, a level not seen since the Great Depression in the 1930s. The number of jobs lost more than doubles the number seen in the 2007-2009 Great Recession, when 8.7 million Americans lost jobs. Before the pandemic, the United States marked a 50-year unemployment low in February, with just 3.5% of Americans unemployed. According to USA Today, of the 20.6 million jobs lost, 18 million are expected to be temporary when the pandemic recedes. Restaurants, bars, travel, and retails are the hardest-hit sectors. Though 40 states are now in the process of reopening parts of the economy, economists warn recovery is not expected for many months, or even years.

 

“Man sits alone, worried and waiting for his destiny to unfold.”

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