Here are the industries suffering the biggest job losses in an initial look at coronavirus impact

from CNBC,

Droves of layoffs at restaurants and bars made March 2020 one of the worst months for U.S. employment in the modern era. The Labor Department reported Friday that payrolls plunged by 701,000, marking the first decline since 2010 and the worst fall since March 2009. The unemployment rate jumped nearly a full percentage point to 4.4% from 3.5%.

The report fails to capture the full damage from the coronavirus so far. The Bureau of Labor Statistics used as its reference period the week ended March 12, which came just as states began their shutdowns. The April jobs report will show deeper and more widespread industry losses.

More From CNBC:

365 Days Page
Comment ( 0 )