Paul Sancya/The Associated Press
The collapse of the job market has occurred with stunning speed. As recently as February, the unemployment rate was a five-decade low of 3.5 per cent, and employers had added jobs for a record 113 months. In March, the unemployment rate was just 4.4 per cent The government’s report Friday noted that many people who lost jobs in April but didn’t look for another one weren’t even counted in the unemployment rate.
McGurk’s tried selling food curbside, Barnard said, but it was costing more to keep the place open than the money that was coming in. Around that time, the bar where she worked closed, and comedy jobs ended when social distancing requirements forced clubs to close. In France, about half the private-sector workforce is on a government paid-leave program whereby they receive up to 84 per cent of their net salary. In Germany, 3 million workers are supported in a similar system, with the government paying up to 60 per cent of their net pay.In the five weeks covered by the U.S. jobs report for April, 26.5 million people applied for unemployment benefits.
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