The number of new unemployed in the United States has exceeded four crore

The number of new unemployed in the United States has exceeded four crore

International Desk (Channel TT): Unemployment is rising sharply in the United States due to the corona epidemic lockdown. The number of new unemployment in the country has exceeded 4 crore. The country's unemployment rate rose to 14.7 percent in April, the highest in 90 years.

Economists fear that this month, for the first time since the Great Depression of the 1930s, the unemployment rate in the United States could reach 20 percent.

According to the US Department of Labor, about 2.1 million people applied for unemployment benefits in the country last week. Although the restrictions have been relaxed, the three-month lockdown has led to layoffs in financial and commercial institutions. However, many of the older workers are being called in as work has started in retail shops, restaurants, gyms, parlors and even some car manufacturers. As a result, many are hopeful that the unemployment rate could be reduced this month if the list is updated.