The non-farm private sector lost an unprecedented 20,236,000 jobs in April, according to the ADP National Employment Report. This follows a revised March decline of 149,000 jobs.
Small businesses with fewer than 50 employees lost 6,005,000 jobs. Medium-sized businesses with 50-499 employees lost 5,269,000, while large businesses lost 8,963,000 jobs.
“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.” Consequently, the report does not reflect the full impact of COVID-19 on the overall employment situation.
Service-providing employment led the decline with 16,007,000 jobs lost, driven by the Leisure/hospitality services and Trade/transportation/utilities, which lost 8,607,000 and 3,440,000 jobs respectively.
Goods-producing employment declined by 4,229,000 jobs. The manufacturing and construction industries declined 1,674,000 and 2,477,000 jobs respectively. Natural Resources/mining employment decreased by 78,000 jobs.
Read the ADP report.
Read More: ADP: 20 Million Jobs Lost in April