Weekly Unemployment Claims Finally Drop Below 2 Million, but the Numbers Still Look Bleak
COVID-19 has been ravaging the U.S. economy since cases started multiplying about three months ago. Since mid-March, unemployment levels have been through the roof, with Americans filing more than 2 million jobless claims per week.
Thankfully, weekly unemployment claims dipped a bit for the week ended May 30, finally coming in below the 2 million mark -- but the numbers still aren't great. In April, the unemployment rate reached a record 14.7%, the highest it's been since the Great Depression. And once all of May's numbers come in, analysts predict an unemployment rate of close to 20%.
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Source Fool.com
