Unemployment will surge to 15% on 22 million jobs lost in April: BofA - Business Insider

Friday's April jobs report should go down in infamy, Bank of America economists wrote in a Wednesday note.

The bank forecasts that the report will show a "shocking loss" of 22 million jobs in April and expects the unemployment rate to jump to 15% from"The April employment report will reveal unprecedented job losses as the economy has been shut down to control the spread of COVID-19," a group of economists led by Alexander Lin wrote in a Wednesday note.

"Large increases in unemployment will keep the participation rate relatively steady," Lin wrote. "But a much lower-than-expected unemployment rate might not be reason to cheer as it will probably be accompanied by a collapse in labor force participation.

Times like this require Basic Income for everyone. But, you have an inflexible president in the white house, throwing good public money at zombie banks and corporations realDonaldTrump wake up JustinTrudeau is on the right path, but stop being selective

Mark55____ Economy’s doing fine!

Here in Uganda,CEOs are donating to the National task force for food relief but cutting employees salary in back rooms to around 40%

UBI is the only realistic way to address this.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

UK car sales fall 97% April because of COVID-19 pandemic - Business InsiderApril is shaping up to be the worst month in UK car sales in 74 years. Only 4,321 new cars were sold.
Source: BusinessInsider - 🏆 729. / 51 Read more »

US companies eliminated a record 20.2 million jobs in April, ADP report says - Business Insider'Job losses for the month of April alone was more than double the total jobs lost during the Great Recession,' said Ahu Yildirmaz of ADP. much more in june-july!
Source: BusinessInsider - 🏆 729. / 51 Read more »