King of Prussia, PA Jobs Report
The U.S. economy shed a record 20.5 million payrolls in April and the unemployment rate jumped to 14.7%, as the coronavirus pandemic forced businesses across the country to temporarily shut down and lay off or furlough workers.
The unemployment rate surged to 14.7% in April, the highest on record based on the monthly Bureau of Labor Statistics (BLS) data spanning back to 1948. The monthly unemployment rate was estimated to have been about 25% at the peak of the Great Depression in 1933. April’s steep decline follows March’s payrolls drop of 870,000, which only captured just the start of the nationwide business closures.
*The following chart displays the latest local job growth by sector compared to the previous month. Note that if a sector experienced losses or flat growth, it will not be displayed as part of the graphic.
BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.