U.S. loses 20.2 million private sector jobs in April, ADP says
A staggering 20.2 million private sector jobs were lost from March to April, the ADP National Employment Report said Wednesday.
This private payrolls loss during the coronavirus pandemic was the worst ADP has recorded in a month since it began tracking in 2002, far surpassing the previous worst report of 834,665 in February 2009, CNBC reports. The report, however, notes that since it's based on data through the 12th of April, it "does not reflect the full impact of COVID-19 on the overall employment situation." The number of Americans who filed initial unemployment claims recently passed 30 million in six weeks.
"Job losses of this scale are unprecedented," ADP Research Institute co-head Ahu Yildirmaz said, per CNBC. "The total number of job losses for the month of April alone was more than double the total jobs lost during the Great Recession."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
This comes ahead of the report to be released Friday from the Labor Department that economists forecast will show an unemployment rate of 16 percent as about 21.5 million jobs were lost, USA Today reports. White House economic adviser Kevin Hassett, however, said this week the unemployment rate could end up being as high as 20 percent.
"We are looking at probably the worst unemployment rate since the Great Depression," he said.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
Is Cop29 a 'waste of time'?
Today's Big Question World leaders stay away as spectre of Donald Trump haunts flagship UN climate summit
By The Week UK Published
-
The rise of the celebrity chef tour
The Week Recommends Chefs and food writers are hosting sell-out live events around the world
By Irenie Forshaw, The Week UK Published
-
'Thank you for your service'
Today's Newspapers A roundup of the headlines from the US front pages
By The Week Staff Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published
-
Ports reopen after dockworkers halt strike
Speed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
By Peter Weber, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published