United States lost 20 million jobs in April

Unemployment in the United States soared 10.3 percentage points to 14.7% in April as a result of the wave of layoffs due to the coronavirus pandemic, the Labor Department reported Friday. Unemployment in the country has risen from 4.4% in March to 14.7% the following month, the largest increase in this indicator to date. Unemployment is thus at levels not seen since the Great Depression of 1930. 

In April, 20.5 million jobs were destroyed across the country. The most affected were the hotel and restaurant sector, with over 7.6 million jobs destroyed, followed by the retail sector, with 2.1 million jobs; and the manufacturing sector with 1.3 million fewer jobs. 

Labour force participation fell to 60.2% in April from 62.7% in March, the lowest figure since 1973. The number of unemployed persons rose by 15.9 million to a total of 23.1 million, reflecting the effects of the coronavirus pandemic and the efforts to contain infections.  

COVID-19 has brought the country to an unprecedented economic standstill. The first estimate of the evolution of gross domestic product (GDP) in the first quarter of the year recorded a contraction of 4.8%, but the second quarter figures are expected to be worse.