May 8, 2020
Today, the U.S. Bureau of Labor Statistics (BLS) released the April employment report showing the nation’s unemployment rate rising to 14.7%, up from 4.4% in March, with 20.5 million jobs lost for the month. The data reflects the impact the COVID-19 pandemic has had on the economy. The BLS notes that all major industry sectors experienced sharp employment declines, including healthcare, with heavy job losses in leisure and hospitality (-7.7 million).
According to the report, hospital employment in April declined by about 135,000 jobs. Overall healthcare employment declined by 1.4 million jobs in April, with the majority of losses experienced by dentist offices (-503,000), physician offices (-243,000), and other healthcare practitioner offices (-205,000).
The April figures are said to shatter post-World War II era records for unemployment; however, the numbers are less than the Great Depression, which was estimated to have an unemployment rate as high as 24.9%.