In April this year, 2.05 crore people have been unemployed due to Corona virus epidemic, after which the unemployment rate has increased to 14.7 percent.

This unemployment rate is the highest since the Great Depression of 1930.

Until two months ago, the unemployment rate in the country was 3.5 per cent, the lowest in the last fifty years.

However, the US President has said that he was fully anticipating the unemployment rate to rise and he expects the economy to grow in the future.

In a program on Fox News Channel, he said that the loss of jobs in April was not "shocking" and he was "completely apprehensive".

In this program called Fox and Friends, he said that "Even the Democrat leaders are not blaming them for this. But the work I can do is bring these jobs back."

Since the beginning of the Corona epidemic, its impact has been visible on the US economy and the growth rate is seen to be declining over the years.

Shops are closed due to Corona and a record decline in retail sales.

Economist Erica Groshen, who previously headed the government's Bureau of Labor Statistics, describes the current situation as historic. She says, "To combat this epidemic, we have put our economy into a coma. This has resulted in the loss of jobs on a large scale."

Erica Groshen currently teaches at Cornell University.

According to the report of the US Labor Department, all sectors of the economy are declining.

The most affected is the hospitality sector, where about 77 lakh jobs have been lost. At the same time, about 25 lakh jobs in education and health services and about 21 lakh people in the retail sector have been lost.

The Labor Department says that 1.81 crore jobs have been temporarily lost and companies expect the economy to recover again with the situation improving.

However, economists believe that due to this epidemic, there will be a change in the way companies work and the effect can be prolonged.

They believe that the longer the lockdown will last, the greater the damage to the economy.

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