Posted at EPI’s Elise Gould writes: After a sharp fall in March, payroll employment dropped like a rock in April. I struggle to even put into words how large this drop is. It’s as if all the gains in employment since 2000 were wiped out. Total job losses over the last two months would fill all 30 currently empty Major League Baseball stadiums 16 times over. It’s as if all the jobs in all of the states beginning with the letter “M” simply disappeared in the last month. That’s all the jobs in Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, and Montana combined.
The job losses in April were far more widespread than the job losses in March. There were acute losses in leisure and hospitality (-7.7 million), education and health services (-2.5 million), professional and business services (-2.1 million), retail trade (-2.1 million), manufacturing (-1.3 million), and other services (-1.3 million). Read the economic indicator »
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