US businesses slashed 27,000 jobs before strictest coronavirus shutdowns took effect, new report shows

Private-sector firms cut 27,000 jobs in the month ended March 12, according to a Wednesday report from ADP.The release marks the metric’s first decline since 2017 and suggests the labor market began to weaken before widespread lockdowns and stay-at-home activity was ordered later in March.Small employers slashed 90,000 roles, with the majority of the losses…

US businesses slashed 27,000 jobs before strictest coronavirus shutdowns took effect, new report shows

Private-sector firms cut 27,000 jobs in the month ended March 12, according to a Wednesday report from ADP.The release marks the metric’s first decline since 2017 and suggests the labor market began to weaken before widespread lockdowns and stay-at-home activity was ordered later in March.Small employers slashed 90,000 roles, with the majority of the losses stemming from businesses with fewer than 20 employees.Mid-sized firms added 7,000 jobs, while payrolls at large companies jumped by 56,000, according to ADP.Visit Business Insider’s homepage for more stories.

US companies cut 27,000 jobs in the month ended March 12, according to a Wednesday report from ADP, bringing the first decline for the metric since 2017.The report reveals a weakening labor market before the nation stepped up coronavirus containment measures later in the month. Weekly jobless claims data released March 26 showed a re
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