April jobs data to show a record-shattering loss of jobs in US: Report

This would mean that nearly all the job growth in the 11 years since the Great Recession had vanished in a single month

The economic catastrophe caused by the viral outbreak likely sent the US unemployment rate in April to its highest level since the Great Depression and caused a record-shattering loss of jobs.

With the economy paralyzed by business closures, the unemployment rate likely jumped to at least 16 per cent from just 4.4 per cent in March and employers cut a stunning 21 million or more jobs in April, economists have forecast, according to data provider FactSet.

If so, it would mean that nearly all the job growth in the 11 years since the Great Recession had vanished in a single month.

Yet even