22 MILLION AMERICANS LOST JOBS IN 4 WEEKS: The IMF holds a virtual news conference on COVID-19's impact on the global economy. The U.S. Labor Dept. released new unemployment numbers this morning showing all the employment gains of the Obama recovery have been wiped out. U.S. unemployment is currently over 20%, the worst since the Great Depression. The impact on poorer nations will be even worse. Yesterday World Bank President David Malpass said that countries with developing economies will be ‘moving backward because of the global recession’ caused by COVID-19.
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