{"id":24516,"date":"2020-05-08T10:27:57","date_gmt":"2020-05-08T17:27:57","guid":{"rendered":"https:\/\/lapost.us\/?p=24516"},"modified":"2020-05-08T10:29:50","modified_gmt":"2020-05-08T17:29:50","slug":"coronavirus-crisis-sends-nations-unemployment-rate-to-14-7","status":"publish","type":"post","link":"https:\/\/lapost.us\/?p=24516","title":{"rendered":"Coronavirus crisis sends nation&#8217;s unemployment rate to 14.7%"},"content":{"rendered":"<p class=\"story-body__introduction\">The US unemployment rate has risen to 14.7%, with 20.5 million jobs lost in April, as the coronavirus pandemic devastated the economy.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/ci5.googleusercontent.com\/proxy\/VgvxiMWl_eGWxqFCJ46d0AmSxAJZI2B_SAuTNQGOGTECT2L1nWPp2xVcYC8TtWxLeV_y5ZrGZgxbVrnxv-GmA6NIrqtv2wiadRA0ng=s0-d-e1-ft#https:\/\/thehill.com\/sites\/default\/files\/1230reidtweet.jpg\" \/><\/p>\n<p>The rise means the jobless rate is now worse than at any time since the Great Depression of the 1930s.<\/p>\n<p>Since the pandemic began, the US has suffered its worst growth numbers in a decade and the worst retail sales report on record.<\/p>\n<p>Just two months ago, the unemployment rate was at 3.5%, a 50-year low.<\/p>\n<p>&#8220;It is historically unprecedented,&#8221; said economist Erica Groshen, former head of the government&#8217;s Bureau of Labor Statistics, who now teaches at Cornell University. &#8220;We have put our economy into a medically induced coma in order to heal it from the pandemic&#8230; and that has led to the most precipitous loss of jobs seen in any of the modern data.&#8221;<\/p>\n<p>The report from the Labor Department showed declines in every sector of the economy.<\/p>\n<p>Leisure and hospitality was hit especially hard, with payrolls falling by 7.7 million or 47%. Employers in education and health services cut 2.5 million positions, while retailers shed 2.1 million.<\/p>\n<p>The Labor Department said more than three-quarters of those without jobs described themselves as temporarily laid off, a sign that many of those currently without work are hopeful that the economy will be able to rebound.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The US unemployment rate has risen&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11,16,7],"tags":[],"class_list":["post-24516","post","type-post","status-publish","format-standard","hentry","category-business","category-health","category-u-s-a"],"_links":{"self":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/24516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24516"}],"version-history":[{"count":2,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/24516\/revisions"}],"predecessor-version":[{"id":24520,"href":"https:\/\/lapost.us\/index.php?rest_route=\/wp\/v2\/posts\/24516\/revisions\/24520"}],"wp:attachment":[{"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lapost.us\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}