April 3, 2020
05:49
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Shutdowns from coronavirus wreak havoc on labour market | Money Talks
The United States is struggling to contain the outbreak of the coronavirus, with infections there accounting for nearly a quarter of cases worldwide. The economic implications of lockdown measures are also getting worse. In March, the US economy shed more than 700-thousand jobs, ending almost a decade of consecutive monthly job growth - raising the unemployment rate to 4.4 percent. Analysts say this is just the tip of the iceberg, with many expecting the jobless rate to hit double digits by the second quarter. And Wall Street is bracing for a scenario similar to the beginnings of the Great Depression. TRT World Correspondent Frank Ucciardo has more. For more on this story, we spoke to Jade Barker in New York.
#Coronavirus #LockdownMeasures #USjobs
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