WEB DESK
The unemployment rate has risen to 14.7 per cent IN US, with 20.5 million jobs lost in April, as the Corona virus pandemic devastated the economy. Department of Labour yesterday announced that the US unemployment rate rose to 14.7 per cent from just 4.4 per cent in March and a near 50-year low of 3.5 per cent in February before the US was hit by the virus.
Economic Adviser to the US President Larry Kudlow told reporters at the White House said that May is going to be another tough month. The pandemic has killed over 75,000 people in the United States and infected over 1.2 million. The rise means the jobless rate is now worse than at any time since the Great Depression of the 1930s.