WASHINGTON—The April unemployment rate surged to a record 14.7% and payrolls dropped by a historic 20.5 million workers as the coronavirus pandemic hit the economy, wiping out a decade of job gains in a single month. Employment fell sharply in all broad business sectors last month and across all groups of workers, with particularly large increases in unemployment among women, college dropouts and Hispanics.

Source: Wall Street Journal May 08, 2020 09:32 UTC