The unemployment rate has skyrocketed to 14.7%. That is a 10.3 percentage point jump in a month and a record since the government has been keeping labor statistics, 1948. While the jump is directly attributable to the Coronavirus, the decline in jobs is across the board. Worse, the damage from Covad-19 is starting to be permanent. It's so bad the graphs cannot adequately display the unemployment horror due to the scale.
The March unemployment report is the first major visual onlsaught of a global pandemic consequences. From here it's only going to get worse as these results are from last month. The unemployment rate jumped from 3.5% to 4.4% over one month. That hasn't happened since 1975. Labor participation rate also plunged. If gets even worse.
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