The April unemployment rate has its highest and largest one-month increase
In April, the U.S. unemployment rate increased by 10.3 percentage points to 14.7 percent.
This is the highest rate and the largest over-the-month increase in unemployment going all the way back to when this data was first compiled by the federal government in January 1948.
The unemployment number is published monthly by the U.S. Bureau of Labor Statistics (BLS) in its Employment Situation release.
The May edition of the BLS Employment Situation reported that total non-farm payroll employment fell by 20.5 million in April, and the unemployment rate rose to 14.7 percent.
The BLS goes on to say, "that the changes in these measures reflect the effects of the coronavirus (COVID-19) pandemic and efforts to contain it." It also reports in its summary that employment fell sharply in all major industry sectors.
Particularly heavy job losses were felt in the leisure and hospitality sectors of the U.S. economy.
The statistics provided come from two monthly data surveys collected by the BLS. The household survey measures labor force status,
including unemployment, by demographic characteristics. The establishment survey measures non-farm employment,
hours, and earnings by industry.