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US unemployment rate risen to 14.7%

 US unemployment rate risen to 14.7%
New York, the US financial capital, is also one of the US hotspots for the coronavirus

The US unemployment rate has risen to 14.7%, with 20.5 million jobs lost in April due to coronavirus.

The rise means the jobless rate in the US is now worse than at any time since the Great Depression of the 1930s.

Since the pandemic began, the US has suffered its worst growth numbers in a decade and the worst retail sales report on record.

Just two months ago, the unemployment rate was at 3.5%, a 50-year low.

[Source: BBC News]

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