Why The Markets Aren’t Phased By The Highest Unemployment Rate On Record

U.S. unemployment is at all-time highs, yet the market keeps rising, what’s going on? Photographer: … [+] Michael Nagle/Bloomberg © 2016 Bloomberg Finance LP This week the official unemployment numbers for April came out. Unemployment hit 14.7%. That’s the highest unemployment rate for the series going back to 1948 and also the biggest jump with…

A record 20.5 million people lost their jobs April as joblessness rate leaps to 14.7%

The impact of the coronavirus-induced economic shutdown tore through the U.S. labor market in April at historic levels, slashing 20.5 million workers from nonfarm payrolls and sending the unemployment rate skyrocketing to 14.7%, the Labor Department reported Friday.Both numbers easily smashed post-World War II era records and help reflect the profound damage done through efforts…