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Coronavirus unemployment at nearly 15% is still shy of the record high reached during the Great Depression

  • Written by Jay L. Zagorsky, Senior Lecturer, Questrom School of Business, Boston University
Coronavirus unemployment at nearly 15% is still shy of the record high reached during the Great DepressionBusiness closures across the U.S. have caused job losses to spike. AP Photo/Paul SancyaCoronavirus unemployment at nearly 15% is still shy of the record high reached during the Great DepressionCC BY-ND

The U.S. unemployment rate jumped from 4.4% in March to a roughly 90-year high of 14.7% in April.

But could the rate, as some predict, surpass the record 25% joblessness the U.S. experienced at the peak of the Great Depression?

As a macroeconomist who has...

Read more: Coronavirus unemployment at nearly 15% is still shy of the record high reached during the Great...

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