March Jobs Report: 701K Jobs Lost

March Jobs Report: 701K Jobs Lost
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This morning’s employment report for March showed a 701K decrease in total nonfarm payrolls, which was well below the forecast of -100K.

Here is an excerpt from the Employment Situation Summary released this morning by the Bureau of Labor Statistics: Total nonfarm payroll employment fell by 701,000 in March, and the unemployment rate rose to 4.4 percent, the U.S. Bureau of Labor Statistics reported today. The changes in these measures reflect the effects of the coronavirus (COVID-19) and efforts to contain it. Employment in leisure and hospitality fell by 459,000, mainly in food services and drinking places. Notable declines also occurred in health care and social assistance, professional and business services, retail trade, and construction. Coronavirus (COVID-19) Impact on March 2020
Establishment and Household Survey DataMarch data from the establishment and household surveys broadly reflect March data from the […]

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