The U.S. government on Friday is poised to report the worst set of jobs numbers since record-keeping began in 1948, a snapshot of the devastating damage the coronavirus pandemic has inflicted on the economy. Twenty-one million jobs may have been lost. Even those numbers won’t fully capture the scope of the damage the coronavirus has inflicted on jobs and incomes. Some who lost jobs in April and didn’t look for a new one in light of their bleak prospects won’t even be counted as unemployed. Yet in just April alone, the expected job loss of 21 million would amount to 14 percent of all jobs — more than twice as much.-AP

Source: The Standard May 08, 2020 05:03 UTC