U.S.: Private Payrolls Fall by 20.2 Million in April | Financial Buzz

U.S.: Private Payrolls Fall by 20.2 Million in April

Private employers laid off a total of 20.236 Million workers in April as business closures ensued due to the nationwide response to the coronavirus pandemic.  The labor market reported historic job losses last month.  The fall in private payrolls was indicated in the ADP National Employment Report on Wednesday as the nation-wide mandatory lockdown was pushed to slow the spread of COVID-19. 

Parts of the country have begun lifting the lockdowns as non-essential businesses continue to reopen.  Private payrolls fell by 149,000 jobs compared to previously reported 27,000 that was the first decline since September 2017. 

The ADP report indicated that the hospitality industry dropped 8.61 million jobs in the last month as it accounted for over 40% of private sector job losses.  These numbers come as no surprised as over 30 million people have filed for unemployment benefits since March 21st

The government employment report for April is expected to release on Friday.  Nonfarm payrolls are expected to fall by 21.853 million in April, according to Reuters