The US unemployment rate rose to 14.7%, the highest since the Great Depression
In the United States, 36 million people have lost their jobs from the onset of the coronavirus pandemic.
It is indicated that over the past 2 months (from mid-March to mid-May 2020), over 36 million US residents applied for state unemployment assistance, of which about 3 million unemployed were registered during the past week.
Thus, the share of unemployed in the United States rose to 14.7%, which is the highest indicator since the Great Depression. Moreover, the actual number of unemployed may be even greater than the official data.
As noted, despite the fact that the United States weaken quarantine and thereby ensure the work of small and medium-sized businesses, people continue to lose their jobs.
It is known that the US Congress allocated $ 350 billion to support business (loans and grants) under the so-called Payroll Protection Program. Recently, the US Congress decided to expand this program by another $ 320 billion.