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US unemployment reached a record 14.7%, This is the highest unemployment rate since the Great Depression

The unemployment rate in the U.S. rose to 14.7% in April against 4.4% recorded in March. According to the Ministry of Labor, 20.5 million people lost their jobs for the month: the number of jobs in the private sector decreased by 19.5 million, while in the public sector – by 980 thousand.
Significant job losses are reported in the hotel and restaurant business – 7.6 million, retail – 2.1 million, as well as in the health sector – 1.4 million. Manufacturing companies have reduced 1.33 million employees, while construction companies – almost 1 million people.
The Washington Post notes that this is the highest unemployment rate since the Great Depression, but it was better than analysts expected. On average, experts predicted a jump in unemployment to 16% amidst the COVID-19 pandemic. The share of working-age population in the labor force fell to 60.2% (against 62.7% in March), which was the lowest figure since January 1973. The unemployment rate, including Americans who chose part-time employment for economic reasons, rose to 22.8% in April from 8.7% in March.