The coronavirus pandemic has taken a devastating toll on the U.S. job market. A Labor Department report released in late April showed total job losses of more than 30 million since businesses began shutting down weeks ago. Many of the jobs lost have been in nonessential industries that are closed down, such as tourism, entertainment and dining. Still, even businesses that remain open have been struck by the shock to the economy and have laid-off workers, according to a new report from WalletHub. Some American cities have fared much worse than others. WalletHub examined the year-over-year increase in the unemployment rate in major cities through March. Researchers compared 180 of the largest U.S. cities — including the 150 most populated ones, plus at least one of the most populated cities in each state — and reported data on the 130 most affected. See the gallery for the 10 U.S. cities with the largest increase in COVID-19-related unemployment. Related: |
- 10 states where unemployment is rising the most
- 5 industries shielded from the pending recession
- 5 states most, least vulnerable to COVID-19's financial effects
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
