By some calculations, the unemployment rate stands at 23.6%, not far from the Depression peak of nearly 25%. And it robs President Donald Trump of the ability to point to a strong economy as he runs for reelection. “In just two months the unemployment rate has gone from the lowest rate in 50 years to the highest rate in almost 90 years," said Gus Faucher, chief economist at PNC Financial. Unemployment in the 19-country eurozone is expected to surpass 10% in coming months as more people are laid off. Job losses were especially severe among Latinos, whose unemployment rate leaped to 18.9% from 6% in March.

Source: ABC News May 08, 2020 06:00 UTC