With 20.5 Million Jobs Lost in April Alone, and a Staggering Unemployment Rate of 14.7 Percent, Congress Must Act
May 8, 2020 – America’s Recovery Fund Coalition issued the following statement after the release of April’s jobs report. The report showed a stunning collapse in the workforce, with 20.5 million jobs lost last month and unemployment rising to 14.7 percent, as the economy continues to buckle beneath the weight of the COVID-19 pandemic.
“While the data releases telling the tale of economic damage wrought by COVID-19 are almost unfathomable, the story is all too real for American businesses and workers,” said Trevor Hanger, research director for America’s Recovery Fund Coalition. “Our coalition represents sectors as diverse as construction, retail, theaters, real estate, restaurants, gyms, salons, and equipment suppliers. Our members are the businesses at the forefront of navigating this new normal and will play a central role in American economic recovery.
“The hospitality sector lost 7.7 million jobs alone, and retail jobs decreased by an astounding 2.1 million.
“Actions to date allowed some businesses a chance to catch their breath, but the American economy is still in a race for its life. America’s Recovery Fund will provide support for the businesses and employees that play a critical role in winning that race. Without it, businesses will continue to struggle, unemployment will remain far too high, and communities across the country will be devastated long after the current public health crisis is resolved. We urge Congress to act without delay and establish America’s Recovery Fund.”
About America’s Recovery Fund Coalition
America’s Recovery Fund Coalition represents 45 percent of the United States workforce. With more than 100 members across retail, restaurants, theaters, gyms, salons, real estate, the travel industry, financial services, construction, and equipment suppliers, we represent a combined 58 million American workers. We are asking Congress for support to help our businesses, workers, and communities recover. Learn more at www.AmericasRecoveryFund.org.