10/05/2020
GeoEconomic_Trends 10 May 2020
US Figures Do Not Represent the Magnitude of the Situation
The US official unemployment soared to 14.7% in April, the highest rate since the Great Depression. Still, those numbers are understating a much harsher reality. Let’s not kid ourselves, an objective observation of the data tells us that the true unemployment rate is much higher than 14.7%..
Written by Mario Vanella, Global Chief Economist US Unemployment Figures Do Not Represent the Magnitude of the SituationThe US official unemployment soared to 14.7% in April, the highest rate since the Great Depression. Still, those numbers are understating a much harsher reality. Let’s