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Unemployment Rate In The U.S Could Reach 13% By May


Since the coronavirus pandemic, nearly 3.3 million Americans have filed for unemployment. Revenue has drastically declined at restaurants, hotels, movie theaters, gyms, and airlines. Auto sales are low, and carmakers have close factories. Most such employers face loan payments and other fixed costs, so they’re cutting jobs to save money. As job losses are increasing, some economists say the nation’s unemployment rate could approach 13% by May. By comparison, the highest jobless rate during the Great Recession, which ended in 2009, was 10%.

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