NEW: March jobs report shows loss of 701,000 jobs; unemployment data breaks a record streak of job creation that dates back to 2010.
Since the jobs data is always backward-looking, economists prefer to look at longer time periods — such as the three-month average — to spot trends. However, the economy has undergone a head-spinning pivot in a matter of weeks.
While March's number far outpaced expectations of 100,000 jobs lost, economists and market participants are in agreement that the April jobs report, which will be released May 8, will better illustrate the havoc wreaked by the coronavirus on the workforce. Some economists are predicting the unemployment number could be as high as 20 million.
“April will be a disaster for labor markets,” Michael Gapen, chief U.S. economist at Barclays, told CNBC. “We still have two more weeks, and we’re probably looking at an unemployment rate of more than 10 percent in April."
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
March jobs report: US economy loses 701,000 jobs amid coronavirus - Business InsiderThe weak March number doesn't even come close to fully reflecting the impact of the novel coronavirus.
Leer más »
The US economy lost 701,000 jobs in March -- worst report since 2009The monthly jobs report shows the US economy shed 701,000 jobs in March and the unemployment rate rose to 4.4%. The report doesn't reflect the past two weeks of skyrocketing layoffs.
Leer más »
March jobs report shows loss of 701,000 jobsNEW: March jobs report shows loss of 701,000 jobs; unemployment data breaks a record streak of job creation that dates back to 2010.
Leer más »
Coronavirus likely ended record U.S. job growth in MarchThe U.S. economy likely shed jobs in March, abruptly ending a historic 113 straight months of employment growth as stringent measures to control the coronavirus pandemic shuttered businesses and factories, confirming a recession is underway.
Leer más »
’No words for this’: 10 million workers file jobless claims in just two weeksMore than 6.6 million U.S. workers filed new claims for unemployment benefits last week, on top of 3.3 million a week earlier, marking unprecedented devastation across the labor market.
Leer más »