US ADP report showed -20,236k losses in private sector jobs in April. As the report utilized data through April 12, full impact of coronavirus pandemic was not reflected. By sector, goods-producing businesses cut -4,229k jobs. Service-providing businesses cut -16,007k jobs. By company size, small businesses lost -6,005k jobs. Medium businesses lost -5,269k jobs. Large businesses lost -8,963k jobs.
“Job losses of this scale are unprecedented. The total number of job losses for the month of April alone was more than double the total jobs lost during the Great Recession,” said Ahu Yildirmaz, co-head of the ADP Research Institute. “Additionally, it is important to note that the report is based on the total number of payroll records for employees who were active on a company’s payroll through the 12th of the month. This is the same time period the Bureau of Labor and Statistics uses for their survey.”
