BBA Economic Digest: Digital Lifelines
The jobs numbers for April released by the Labor Department were about as dismal as expected: The economy shed 20.5 million jobs and the unemployment rate jumped to 14.7 percent — devastation not seen since the Great Depression. The situation was even worse for minorities. Among African-American workers, the unemployment rate was 16.7 percent, and for Latinos it was 18.9 percent. All told, about half of all Americans have a job — the lowest level on record — and it’s expected to get worse. And some people actually said, "Happy Economic Development Week."