ADP: More than 20 million jobs vanished in April
Last updated 5/6/2020 at 12:27pm
AP Economics Writer
BALTIMORE (AP) - U.S. businesses cut an unprecedented 20.2 million jobs in April, an epic collapse with coronavirus outbreak closing the offices, factories, schools, construction sites and stores that propel the U.S. economy.
The Wednesday report from payroll company ADP showed the tragic depth and scale of job losses that left no part of the world's largest economy unscathed. The losses will likely continue through May, with a recovery in hiring likely to begin in the months that follow, said Mark Zandi, chief economist at Moody's Analytics.
"This is one for t...