Date of Publication: May 8, 2020
The current US unemployment rate of 14.7% is the worst it has been since the Great Depression. Just two months ago, the rate was at 3.5%, a 50-year low. The heaviest hit industries were leisure and hospitality, education, and health services. Approximately three-quarters of those without jobs indicated themselves as being temporarily laid off, a sign that they will be able to work once the restrictions are eased. However, how many are able to go back depends on how long the restrictions last and the number of businesses that are able to survive until then.
Read the full article here: https://www.bbc.com/news/business-52591262
Summary by: Rakshith Gangireddy