US unemployment rate similar to Great Depression

Countdown To The Draft
April 29 2021 08:00 pm

WHEELING, W.Va. (WTRF) – The unemployment rate in the United States resembles statistics during the Great Depression. In fact, roughly 20.5 million jobs have been loss as of April, which is the worst monthly loss on record.

This has propelled many states to begin lifting restrictions with several jobs returning in the next few weeks.

However, this is expected to be a slow process as employers bring back workers gradually.

A lot of these employers are going to be slow because they haven’t had any cash flow for quite a while, other than maybe a PPP loan or things like that. So, their coffers may be a little low, so, it’s going to be hard for them to fully re-employ. So, again, I think you will see them do this in stages.

Jason Haswell, Managing Director – Monteverde Group

Haswell says the next few weeks will determine how quickly businesses are able to bring back employees.

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