Unemployment in the USA peaked since the Great Depression :: Economy :: RBC

According to The Washington Post, the US hospitality sector lost about 7.7 million jobs, retail – 2.1 million, production – 1.3 million. In addition, jobs in the health care system fell by about 1.4 million, so as in a crisis, people postpone requests for medical care, except urgent.

About 18 million people who lost their jobs in April reported that their dismissal was temporary, as companies expected the suspension of the economy to be short-lived. Another 2 million claimed that they had finally lost their last job.

US predicts unemployment rate of Great Depression after pandemic

Nevertheless, the unemployment rate recorded in April was not as dramatic as previously predicted. In the middle of the month, The Wall Street Journal wrote that the expected losses would amount to 22 million jobs and the unemployment rate would reach 18%.

During the Great Depression in the USA, the maximum unemployment rate was recorded in 1932 and amounted to 25.5%.

At the end of April, the presidential adviser on economics Kevin Hasset warned that after the coronavirus pandemic is over, unemployment in the country could come close to the times of the Great Depression. He called the current crisis the largest in the US economy.

In order to protect the interests of Americans losing their jobs because of the coronavirus, Trump signed a decree on the suspension of immigration. According to him, this will guarantee that unemployed citizens of the country will be the first in the queue to get work.

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