10 things you need to know today: May 9, 2020

Unemployment rate climbs to 14.7 percent, Watchdog finds 'grounds to believe' vaccine doctor's ouster was retaliation, and more

Application for unemployment benefits.
(Image credit: OLIVIER DOULIERY/AFP via Getty Images)

1. Unemployment rate climbs to 14.7 percent

The Labor Department on Friday said that 20.5 million jobs were lost in April, and the unemployment rate climbed to 14.7 percent. The staggering report showed that a decade of job gains were wiped out in just one month. The report also notes that if it included workers classified as furloughed or temporarily laid off, "the overall unemployment rate would have been almost 5 percentage points higher than reported." The Labor Department's March report showed the unemployment rate climbing to 4.4 percent, from 3.5 percent in February. Weekly data previously showed that more than 33 million Americans have filed initial jobless claims over the course of seven weeks, a number that's equivalent to about 21 percent of the labor force. The ADP National Employment Report also said earlier this week that 20.2 million private sector jobs were lost from March to April.

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Tim O'Donnell

Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.