How high will unemployment go? During the Great Depression, 1 in 4 Americans were out of work

Unemployed people wait outside a government office in NYC in 1933. AP PhotoCC BY-NDThe U.S. unemployment rate climbedfrom a half-century low of 3.5% to 4.4% in March – and is expected to go a lot higher.But could the rate, as some predict, surpass the 25% joblessness the U.S. experienced at the peak of the Great Depression?As a macroeconomistwho has tracked the labor force for decades, I’ve been wondering about this myself.There are actually two divs the Bureau of Labor Statistics uses to estimate employment levels in the U.S.One is the unemployment rate, which comes from the Current Populatio…

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