5.8.20 US Payrolls Fall by Most on Record
Economists had braced market participants for massive job losses in today’s employment report, but that does not make the numbers any less eye-popping.
The US Bureau of Labor Statistics released its monthly employment report this morning, revealing that the domestic economy lost 20.5 million jobs in April. This is by far the largest contraction in the history of the data series, which goes back to 1939. To put that in perspective, prior to this month the largest monthly contraction came in September 1945, when the economy lost 1.96 million jobs.
This report is the first one to have a survey window fully capturi
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