Unemployment soared to 20percent in the US during the epidemic, while billionaires wealth increased by 565 billion

category:Hot
 Unemployment soared to 20percent in the US during the epidemic, while billionaires wealth increased by 565 billion


Reuters quoted a survey of economists as saying that the monthly employment report to be released by the U.S. Department of labor on the 5th of local time may show that the unemployment rate in the United States rose to 19.8% in May from 14.7% in April, the highest level since records began in 1948.

Reuters screenshot

At the same time, it will bring the number of unemployed since States began shutting down unnecessary businesses in March to control the epidemic to 29.4 million, more than three times the number in 2007-2009, when it took six years for the us to recover, Reuters said.

While many Americans are suffering from unemployment, billionaires are feeling a different way - the wealth of billionaires who have benefited from the countrys massive economic stimulus is still rising rapidly.

Since March 18, the wealth of American billionaires has increased by $565 billion, CNN quoted a report released on March 4 by the Institute for policy studies.

The report said the total wealth of US billionaires is now $3.5 trillion, up 19% from the low point at the beginning of the epidemic. Jeff Bezos, founder of e-commerce giant Amazon alone, is worth 36.2 billion dollars more than on March 18.