Markets.News
A new report indicates a significant increase in unemployment rates, with the national figure rising from 4% to 6.2% in the past year. This rise equates to approximately 2.5 million more individuals out of work. States like California and New York have seen some of the highest spikes in unemployment, with rates exceeding 8%. Additionally, the report highlights a concerning trend of job losses in various sectors, including hospitality and retail, with over 700,000 jobs lost in these industries alone. Experts attribute these trends to the ongoing economic challenges stemming from the global pandemic. However, there is optimism regarding potential recovery efforts and initiatives to address the growing unemployment crisis.