Economists forecast 16% unemployment and a record 21 million payroll cuts for April jobs report
Wednesday report by ADP Research Institute showed that private payrolls declined 20.2 million in AprilWhile Friday's report is not as current as the weekly jobless claims release, it will paint a more comprehensive picture of the labor market because it includes hirings and firings. Here are some of the top things economists will be looking for in Friday's report.
"If we measure the strength of the labor market as the share of the population with a job, we do not have to be concerned with most of the measurement issues associated with the unemployment rate, specifically whether would-be workers are actively looking for employment or not and therefore counted amongst the ranks of the unemployed,"They will also be watching the count of hours worked, which will indicate if people are having hours cut because of the coronavirus pandemic but have...
Wednesday's private sector report from ADP showed deep losses spread across multiple industries. Service-providing payrolls dropped by 16 million in April,
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK car sales fall 97% April because of COVID-19 pandemic - Business InsiderApril is shaping up to be the worst month in UK car sales in 74 years. Only 4,321 new cars were sold.
Read more »
US companies eliminated a record 20.2 million jobs in April, ADP report says - Business Insider'Job losses for the month of April alone was more than double the total jobs lost during the Great Recession,' said Ahu Yildirmaz of ADP.
Read more »
Unemployment will surge to 15% on 22 million jobs lost in April: BofA - Business Insider'The April employment report will reveal unprecedented job losses as the economy has been shut down to control the spread of COVID-19,' said BofA.
Read more »
Coronavirus live updates: Task force won't shut down; April jobs report could be worst everThe White House won't wind down the coronavirus task force after all. Starbucks plans to open more shops. More COVID-19 news Wednesday.
Read more »
Two bodies found inside car of North Carolina lesbian couple who vanished in mid-AprilA car belonging to one of two North Carolina women who have been missing since mid-April has been found with two bodies inside in a heavily wooded area.
Read more »
15 Wellness Products That Brought Us Joy (Despite Everything) in AprilFrom chickpea pasta to a sweatshirt with Mitski's face on it.
Read more »