A sign of the times. As governments around the globe shut down economies to prevent the spread of the Covid-19 condition.
The US unemployment rate rose to 14.7% in April, up from 4.4% in March.
Yes, 20.5 millions jobs were lost in April.
The U-6 unemployment rate (or full-time plus partial unemployment rate) rose to an astronomic 22.8%!
Average hourly earnings YoY rose to 7.9% YoY.
But look at the US employment total in labor force. Covid-19 / gov’t shutdown has wiped out labor force gains since 1999 and The Clinton Administration.