Retail Sales in the U.S. Plummet a Record 16.4% in April

In March, the U.S. retail industry suffered an 8.3% nosedive

Since social distancing measures went into effect in mid-March to mitigate the spread of Covid-19 in the country, nearly 36.5 million Americans have filed unemployment claims. As businesses remain shuttered and most people remain indoors (either out of fear or necessity), the unemployment rate is steadily inching toward the Great Depression’s historic peak of 24.9%.