In the US, 20.5 million jobs were wiped out in April — the most ever reported — with unemployment rising to 14.7 percent, the highest since the Great Depression. The world’s largest economy has suffered the deadliest coronavirus outbreak with more than 77,000 fatalities and nearly 1.3 million cases. “We’re going to have a phenomenal year next year,” Trump told reporters. Neighboring Canada also shed 3 million jobs, bringing its unemployment rate up to 13.1 percent, two days after the European Union forecast a massive recession in the bloc. Trump, however, again offered rosy predictions as he said a vaccine was not a prerequisite to end the pandemic.

Source: Manila Times May 09, 2020 16:37 UTC