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Unemployment Hits 8.5 Percent

March’s total job losses were slightly higher than the 654,000 that economists expected. The number of unemployed people climbed to 13.2 million in March. The average work week in March dropped to 33.2 hours, a new record low. Since the recession began in December 2007, the economy has lost a net total of 5.1 million jobs, with almost two-thirds of the losses occurring in the last five months. Economists predict monthly job losses to continue for most of the year, though some are hopeful that payroll reductions in the current quarter won’t be as deep as the roughly 685,000 average job losses in the January-March period.”]

Source: https://www.cuinfosecurity.com/unemployment-hits-85-percent-a-1354

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