How’s the unemployment situation in the US amid COVID-19?

Unfortunately, job losses have been still recording on a consistent scale amid coronavirus around the world. The impact of COVID-19 has changed the situation of jobs in the US drastically. A huge unemployment rate along with an economic slowdown in the US puts the country in the worst condition ever, in recent times.

Since the pandemic started earlier this year and widely spread between February and May, the US has seen an unemployment rate of 3.8% and 13.0% respectively. Around 14.4% in April 2020 was the second highest after the post-world war-II era and stands at the top in the history of the US. While the same situation of unemployment continues, it might take longer for recovery.

However few estimates from the US government reveal that around 16% unemployment rate is recorded during the month of May 2020. Although there have been no confirmed figures of unemployment rates, yet the worst is clearly witnessed. The figures of unemployment in the US during the recent months are yet to be measured with the estimations.

Besides, all the countries including developed, and devolving have been massively lost in terms of managing the economy and decreasing unemployment rate. Alongside, underdeveloped countries are seriously affected in all aspects due to the COVID-19 pandemic.