🇺🇸

U.S. job losses in April worst since Great Depression

Video Credit: Reuters Studio
Published on May 8, 2020 - Duration: 01:07s

U.S. job losses in April worst since Great Depression

The latest figures from the Labor Department released on Friday showed the U.S. economy losing 20.5 million jobs in April, the steepest plunge in payrolls since the Great Depression.

Colette Luke has more.

Advertisement

U.S. job losses in April worst since Great Depression

The U.S. economy lost a staggering 20.5 million jobs in April, the steepest plunge in payrolls since the Great Depression and the starkest sign yet of how the pandemic is battering the U.S. economy.

The latest figures from the Labor Department released on Friday showed the unemployment rate surging to 14.7% last month, shattering the post-World War Two record of 10.8% touched in November 1982.

Economists say the economy entered recession in late March, when nearly the whole country went into lockdowns.

When asked about the devastating April jobless numbers, President Donald Trump in an interview with Fox News Friday morning, said all those lost jobs will be back “very soon”.

While many economists do not expect a quick rebound in the labor market, Companies like Walmart and Amazon are hiring workers to meet huge demand in online shopping.

Truck drivers are in demand, while supermarkets, pharmacies and courier companies also need workers.

You are here


💡 One News Page Knowledge: Other News Mentions




World War II

1939–1945 global conflict between the Axis and the Allies
Highlights of this day in history: Last U.S. combat troops leave Vietnam; Joseph P. Kennedy, Jr. killed in World War II; N.J. Gov. McGreevey to resign after..
Credit: USATODAY.com - Published 1 day ago

"In 1917, they say, right, the great pandemic certainly was a terrible thing where they lost anywhere from 50 to 100 million people, probably ended the Second..
Credit: USATODAY.com - Published 2 days ago

75 years ago Sunday, the United States dropped the second of two atomic bombs on Japan in an effort to hasten the end of World War II, with what was the most..
Credit: CBS News - Published 5 days ago


Walmart

American multinational retailer
Looking for a drive-in movie theater near you while taking coronavirus precautions? Scroll through our list of favorite drive-ins across the country.
Credit: USATODAY.com - Published 7 hours ago

Giant Eagle, Kroger and Walmart sold ready-to-eat meals with vegetable implicated in more than 600 illnesses in 43 states.
Credit: CBS News - Published 5 days ago


Amazon (company)

American technology and e-commerce company
Fires in the Amazon rainforest are surging as Brazil's president claims they don't exist.
Credit: CBS News - Published 11 hours ago

Amazon CEO posts threats from National Enquirer's parent company in shocking post; Delta Airlines apologizes for "pickup" napkins
Credit: CBS News - Published 1 day ago

Leaders at Amazon, JPMorgan Chase and other large employers vow to recruit more low-income and minority workers.
Credit: CBS News - Published 2 days ago

Related videos from verified sources

Are You On An H-1B Visa? Here's What To Do If You Get Laid Off 00:42
Video credit: Wochit - Published on May 24, 2020 

Americans file 2.4 million jobless claims 00:50
Video credit: Reuters Studio - Published on May 21, 2020 

Worst Job Market Since The Great Depression
Video credit: KIMT - Published on May 20, 2020 

You might like