Labor Market News

National unemployment rate rises to record high 14.7 percent in April 2020

National unemployment rate rises to record high 14.7 percent in April 2020

The national unemployment rate in April 2020 increased by 10.3 percentage points to 14.7 percent. This is the highest rate and the largest over-the-month increase in the history of the data (available back to January 1948). The number of unemployed persons rose by 15.9 million to 23.1 million in April. The sharp increases in these measures reflect the effects of the COVID-19 pandemic and efforts to contain it.

In April, unemployment rates rose sharply among all major worker groups. The rate was 13.0 percent for adult men, 15.5 percent for adult women, 31.9 percent for teenagers, 14.2 percent for Whites, 16.7 percent for Blacks, 14.5 percent for Asians, and 18.9 percent for Hispanics. The rates for all of these groups, except for Blacks, are record highs.

 

The employment–population ratio, at 51.3 percent, dropped by 8.7 percentage points over the month. This is the lowest ratio and largest over-the-month decline in the history of the data back to January 1948.

 

Source: Bureau of Labor Statistics

To see the full report go to: https://www.bls.gov/opub/ted/2020/unemployment-rate-rises-to-record-high-14-point-7-percent-in-april-2020.htm

 


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