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30 Nov 2020

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US economy loses a record 20.5 million jobs
US economy

US economy loses a record 20.5 million jobs 

We begin in the US where numbers just released show unemployment has surged in April. The biggest in close to 90 years tens of millions of jobs were wiped out. Right across the country, it’s coronavirus lockdown fatter the economy unemployment. Skyrocketed to fourteen point seven percent. it was 4.4% in March in April 20.5 million jobs were lost.

That’s the worst result since the Great Depression which began in 1929. It far exceeds the 2008 global recession when 8.7 million jobs were wiped out. The US President Donald Trump giving an interview talking about those numbers reacting, about the very high unemployment rate that was not unexpected. But certainly not good news for this administration.

The US president calling these numbers in his view unacceptable also saying that he is optimistic. That as president he can bring this economy. Just eight weeks ago there was a record in the books and that was historically low unemployment.

Now we have just the opposite rack new records being set the US president, saying that he believes he can bring back a very strong economy but what’s interesting is his timeline the US president predicting that 2021 will be a very strong year.

Why is that important well the US president is up for re-election in 2020 hidden in that message is the underlying request?

Author: Ammar Rasheed

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