(CNBC) April’s jobs report will be horrific, and with the worst job losses ever, it should provide a critical look into the depths of the crater the economy has fallen into. Economists expect a record 21.5 million jobs were lost last month, sending the unemployment rate sharply higher to 16% from just 4.4%, according to Dow Jones. But economists concede that unemployment rate could be as low as 11% or higher than 20%, because of the way the government collects the data in its survey.
April employment report is expected to show more than 20 million lost jobs and depth of pain as US economy shut down
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