Economics
Share of Unemployed on Temporary Layoff in U.S. Soars to Record
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The April jobs report was breathtakingly awful, but the figures also included a hopeful sign for U.S. workers once the economy begins re-opening from its pandemic-induced shutdown.
The share of unemployed people on temporary layoff soared to almost 80%, the highest on record, from 26.5% a month earlier, according to Labor Department figures issued Friday. The overall unemployment rate jumped to 14.7%, the highest in eight decades, from 4.4%.