The U.S. lost 701,000 jobs in March, reflecting an early wave of coronavirus layoffs that are now sweeping the nation
The U.S. lost 701,000 jobs in March, breaking a remarkable string of uninterrupted payrolls gains the past decade and revealing just the leading edge of the coronavirus-triggered hurricane that's upending America’s economy and labor market.
That’s because Labor’s survey was conducted the week ending March 14, before most states ordered residents to stay at home and nonessential businesses -- such as restaurants, movie theaters and most stores -- to close.Economists surveyed by Bloomberg estimated that 100,000 jobs were lost last month. Goldman Sachs, however, believes the March tally could signify substantial layoffs as well, noting that some of the 3.3 million Americans filing first-time jobless claims the week ending March 21 likely were let go the previous week. The number unemployed people rose by 1.4 million last month, Friday's report shows.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
March jobs report: US economy loses 701,000 jobs amid coronavirus - Business InsiderThe weak March number doesn't even come close to fully reflecting the impact of the novel coronavirus.
Read more »
The US economy lost 701,000 jobs in March -- worst report since 2009The monthly jobs report shows the US economy shed 701,000 jobs in March and the unemployment rate rose to 4.4%. The report doesn't reflect the past two weeks of skyrocketing layoffs.
Read more »
U.S. economy lost a total of 701,000 jobs in MarchNEW: March jobs report shows loss of 701,000 jobs; unemployment data breaks a record streak of job creation that dates back to 2010.
Read more »
Americans Have Lost 10 Million Jobs Because Of CoronavirusThe U.S. has now lost nearly 10 million jobs because of the coronavirus by theothersarahh
Read more »
U.S. Lost 701,000 Jobs In March; Much Worse To ComeFor the first time in nearly a decade, the U.S. suffered a net loss of jobs — with U.S. employers shedding 701,000 jobs in March. But that survey was conducted 3 weeks ago, so many job losses from coronavirus shutdowns won't appear until the April report.
Read more »