American workers have experienced the worst month in April. As the country struggles to fight the coronavirus pandemic, the American economy is also dwindling. Unemployment in America rose to 14.7%.
Since the govvernment began tracking data in 1939, April 2020 recorded the most sudden and largest decline in jobs.
The bureaue of labour statistics reported that the US economy lost 20.5 million jobs in the month of April.
The layoffs that took place in March and April are more that double the 8.7 million jobs that were lost in 2008 during the financial crisis.
It toook a long time to get back to normal and when the economy finally started to grow, it took over 10 years for employers to add 22.8 million jobs.
In just two months, the coronavirus has wiped out the gains that were made in over a decade.
For those who lost their jobs during the Great Recession, this pandemic only reopens old wounds.
Since the Bureau of Labor Statistics started recording the monthly ratein 1948, April recorded the highest with 14.7%.
According to historical records, the unemployment rate was the highest in 1933 at 24.9%
The other time it was high it was during the Great Depression.