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A second Great Depression? Unemployment crisis hits big cities hard – CNBC
New York, Los Angeles and other major U.S. cities have seen the unemployment rate soar to 20%, a level some economists believe meets the definition of an economic depression.
All theater performances in New York are suspended through the remainder of 2020 due to the coronavirus outbreak. Pictured, shuttered Broadway theaters.
Great Depression levels of unemployment have hit some of the country’s biggest cities.
The coronavirus pandemic has pushed the jobless rate in New York, Los Angeles and other major urban areas to near or above 20%, nearly twice the national rate.
The unemployment rate is a barometer of financial hardship for American families, since losing a …
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