Job losses in the U.S. from the coronavirus could reach 47 million with an unemployment rate of 32%, according to an analysis by the Federal Reserve Bank of St. Louis. That would easily exceed the 25% rate during the Great Recession. As of February, the U.S. civilian workforce totaled 164.5 million, and the unemployment rates was 3.5%. “These are very large numbers by historical standards, but this is a rather unique shock that is unlike any other experienced by the U.S.
St. Louis Fed Economist: 47 Million Could Lose Their Jobs Due To Virus
Greg Edwards, Biz Journals
Tue, 03/31/2020 - 8:19am
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