U.S. Nonfarm Private Sector Lost 27,000 Jobs Amid Coronavirus
April 01 2020 - 9:18AM
Dow Jones News
By Allison Prang
The nonfarm private sector in the U.S. lost 27,000 jobs in March
as businesses, particularly smaller firms, felt the impacts from
the Covid-19 pandemic.
Small businesses, or those with between 1 and 49 employees, lost
those most jobs, the ADP National Employment Report for March
showed. Economists polled by The Wall Street Journal were expecting
a loss of 125,000 jobs. The report is based on data through March
12.
Small businesses lost 90,000 jobs, the report showed, while
large businesses, or those with at least 500 employees, added
56,000 jobs. Midsized businesses added 7,000 jobs.
The net decline was seen across both the service-providing and
goods-producing sectors, which lost 18,000 jobs and 9,000 jobs
respectively.
The report "does not fully reflect the most recent impact of
COVID-19 on the employment situation, including unemployment claims
reported on March 26, 2020," cohead of the ADP Research Institute,
Ahu Yildirmaz, said in prepared remarks. The ADP Research
Institute, working with Moody's Analytics, publishes the report
each month.
The March jobs report from the U.S. Department of Labor, to be
released Friday, is also expected to show some of the impact from
the Covid-19 pandemic, but won't reflect all of it. Economists
polled by The Wall Street Journal are expecting a loss of 10,000
jobs and an unemployment rate of 3.7%.
(END) Dow Jones Newswires
April 01, 2020 09:03 ET (13:03 GMT)
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