The economy lost 20.5 million jobs in April.
The Labor Department released new unemployment data on Friday that shows the nation lost 20.5 million total jobs in April as the coronavirus pandemic forced businesses to close and employees to stay at home. That brings the unemployment rate to a whopping 14.7 percent for April, the highest on record.
Asked about the new statistics, President Trump said, “It’s fully expected. There’s no surprise. Everybody knows this.” He said the economy would bounce back after businesses are allowed to reopen. “We had to close it, which is artificial. We artificially closed it. Those jobs will be back,” he said.
Some of the unemployed workers may soon be back on the job. At least ten states took steps to reopen their economies on Friday, with California allowing retail stores to unlock their doors and Texas letting barbershops and salons get back to work, among others.
As the Lord Leads, Pray with Us…
- For state governors and local officials to have wisdom and courage in making decisions regarding reopening the American economy.
- For families who are suffering as a result of being furloughed, and those who still have not received unemployment benefits.
- For employers across the nation and the adjustments they need to make to reopen their businesses to protect the health and safety of workers and clients.
- For consumers to begin to have confidence in the safety of going out to restaurants or barbershops or the mall.
Sources: Washington Examiner, Fox News
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