By every measure, the job market is getting grim.

With many non-essential businesses forced to close, workers across the country are suddenly facing extended furloughs or lay-offs. The unemployment rate jumped to 4.4% — from 3.5% — its highest level since August 2017, and it will likely climb much higher.

“There’s no avoiding a substantial rise in the unemployment rate, likely eclipsing the 10% level during the Great Recession,” said Mark Hamrick, a senior economic analyst at Bankrate.com.

More

Share via
Copy link
Powered by Social Snap