In March, the official unemployment rate in the US was 4.4%, close to a 50-year low, but economists predict it could now be as high as 20%, a level unseen since the…
A further 3.2 million Americans sought unemployment benefits last week as the coronavirus pandemic continues to take its toll on the US economy. This brings the total number of jobs lost to 33.3 million since lockdown measures began mid-March.
The number of new claims reported each week by the Department of Labour has subsided since hitting a peak of 6.9 million in March.
