US Unemployment Rate Jumps to a Record High in April
The unemployment rate in the US jumped to 14.7% in April from 4.4% in March, seasonally adjusted data shows. The April figure is the highest since records began in 1948 and broke the record from 1982, when the unemployment rate reached 10.8%.
The jump was largely expected, because the weekly jobless claims began skyrocketing in March as a result of the quarantine measures implemented to contain the COVID-19 outbreak.
In absolute terms the unemployed Americans in April were 23.07 million compared to 7.1 million in March. This too was the highest figure on record.
Detailed data and analysis on COVID-19 and its economic impact can be found on the CEIC COVID-19 Outbreak and Impact Monitor.