THE ECONOMY & 2020 UNEMPLOYMENT: Coronavirus Leads to FASTEST Rate of Job Loss in History of America

In the first two weeks of April, twenty MILLION jobs were lost in America. In total, 33 million Americans have filed for unemployment since the coronavirus pandemic began. And job loss statistics were not monitored at the beginning of COVID-19, so it could be much worse. Nearly 15 percent are now unemployed, but more shocking is the RATE at which it’s all happening. Before this virus, the worst week for rate of job loss was in September 1945. Two million jobs were lost then, but it was still something to celebrate: those jobs disappeared because the Great War was over, and the need for tank and weaponry construction no longer existed. In comparison, we’ve now lost twenty million in two weeks giving April 2020 the fastest rate of job loss in American history. SOME of these jobs WILL snap back quickly when the economy reopens. But many others will not.