Unemployment
Column Published in syndication May 13, 2020

The latest job loss numbers are tragic, but not unexpected considering the COVID-19 pandemic and efforts to control its spread. Total nonfarm payroll employment fell by 20.5 million in April, with losses across all major sectors. The unemployment rate rose to 14.7%, a 10.3 percentage point increase over March. It's the highest rate and the largest increase in the history of the series and will likely get worse.