7 lakh jobs gone in 14 days, worst yet to come in US

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7 lakh jobs gone in 14 days, worst yet to come in US

Apr 05, 2020 00:05 IST

The worst stage of coronavirus pandemic became visible in the US when the Donald Trump government reported that employers cut over 7 lakh jobs in the first two weeks of March -- close to the May 2009 financial crisis peak of 800,000 job losses. Most of the job losses were reported from restaurants and bars, followed by retailers. It was the first decline in payrolls since September 2010, CNBC reported. The unemployment rate rose to 4.4 per cent - from 3.5 per cent -- the first job decline in a decade, the US Bureau of Labor Statistics reported on Friday.

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