(WASHINGTON EXAMINER) -- The economy lost 20.5 million jobs in April, the Labor Department reported on Friday, as the coronavirus wreaked a historic amount of havoc on employment.
The unemployment rate also skyrocketed to 14.7% in April, up from 4.4% in March.
Friday’s report is the worst on record. The federal government has never reported more monthly job losses since it began charting them in 1939. There has also not been a higher monthly unemployment rate since it began tracking it in 1948. The highest annual unemployment rate was 24.9% in 1933, during the Great Depression.
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