By Mike Sunnucks | Rose Law Group Reporter
The U.S. economy shed 20.5 million jobs in April and the unemployment rate jumped to 14.7 percent, according to new numbers this morning from the U.S. Bureau of Labor Statistics.
The job losses show the economic impacts of COVID-19.
The job losses cut across industries in April. Several states including Texas and Georgia have already started to open their economies. Arizona is in the midst of allowing retail stores to reopen with restaurants slated to start re-open next week.
The April job losses nationally occurred throughout the economy including important industries in Arizona such as tourism, health care and construction.
BLS reported job losses of:
- 7.7 million in leisure and hospitality
- 1.4 million in health care
- 2.1 million in retail
- 1.3 million in manufacturing
- 975,000 in construction.