A retail store closed due to COVID-19 shutdowns. (Photo: Paul Morris/Bloomberg) The U.S. unemployment rate surged in April to 14.7%, the highest rate since January 1948, and more than three times the rate a month earlier, according to the Bureau of Labor Statistics.
The number of unemployed swelled to 23.1 million, up 45% from the number in March.
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
