Cononavirus: US unemployment rate has increased to over 14%

US unemployment rate has increased to over 14%, the highest level ever since the Great Depression of 1930s. As can be seen from today's topic, it is increasingly clear that the pandemic confronts America with a labour-market crisis by the impact of Cover-19. 

According to the article about this related statement (Why the unemployment could face a lost decade, May 9. 2020), a return to pre-pandemic jobless rates would still take half a decade, which means that the fully recovery could take two decades. The author also adds America's unemployed face a real risk of another lost decade or two without a hefty dose of good luck and an aggressive government effort. 

"The impact of Covid-19 in terms of business field "

* Disney will furlough(=lay-off) 100,000 of its hotel and park staffs.

*Uber will slash their staff by a fifth.

*Aviation industory would reduce its headcount, or consider lay-offs.

*Luckin coffee, a Chinese Starbucks wannabe, has been hiding giant losses.

Having said that, some wealthy people are able to leave their second or summer houses to avoid the virus by taking their private jets or yacht. The gap between rich and poor is getting bigger and more obvious in advanced countries.