U.S. businesses cut 27,000 jobs in March, before virus hit

WASHINGTON — U.S. companies shed 27,000 jobs in March, according to a private survey, a figure that mostly reflected the economy as it stood before the full impact of the viral outbreak.

Payroll processor ADP said small businesses took the biggest hit, losing 90,000 jobs, while medium-sized and large companies still added workers. Economists forecast that much larger job losses, probably in the millions, will be reported in the coming months.

article continues below

March's figures are the first monthly job loss reported by ADP since Hurricanes Harvey and Irma slammed Texas and much of the southeast in September 2017.

ADP said that the figures were compiled from the week ending March 14, when the number of people seeking unemployment benefits was still largely in check.

The following week, unemployment claims exploded, soaring to 3.3 million, five times the previous record high.

Most of the job losses in the March ADP report were concentrated in a category that includes retail, which cut 37,000 jobs, and in construction, which shed 16,000. Hotels, restaurants and casinos lost 11,000 jobs.

Health care providers were still hiring, adding 44,000 jobs.

Read Related Topics

© Copyright Prince George Citizen

Anti-racism rallies POLL

Do you think it's appropriate to be holding anti-racism rallies against Dr. Bonnie Henry's recommendations?

or  view results

Sign Up For Our e-Newsletter!

Popular Citizen

Lowest Gas Prices in Prince George
Prince George Gas Prices provided by GasBuddy.com