Overview of US unemployment
The economic outlook during 2020 has been very adverse worldwide, with employment in the US and globally falling more since the confinement than in any other crisis. The economic circumstances are unusual for those who remain in their occupations. Approximately 93% of the world's workers have been affected in some way by full or partial shutdowns of economic activities in an attempt to contain the health crisis.
Unemployment in the US, according to official figures from the US Department of Labor (DOL), reached 15 per cent in April 2020, up from 10 per cent during the 2008 crisis, the worst figure in recent history.
The US economy faces a very adverse employment environment and the challenge of creating conditions conducive to economic recovery. Overall, widespread vaccination may take time, condemning the West to even more prolonged confinement, more prolonged unemployment and more impoverished living conditions.
