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.
Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.