Private-sector payrolls lost more than 20.2 million jobs in April, the worst job loss in recorded history. Also, while some job losses may be temporal, many jobs are not coming back.
The Novel Coronavirus for millions of Americans has devastated their livelihood not just because of the contagious disease but also because for millions; they can’t go back to where they used to work.
The government has assisted most of the individuals affected, but the problem is that the damage done to our economy by the stay at home orders because of the coronavirus is irreversible. For America, a new path of employment has to be etched out to get our country growing again.
“Job losses of this scale are unprecedented,” said Ahu Yildirmaz, co-head of the ADP Research Institute, which compiles the report in conjunction with Moody’s Analytics. “The total number of job losses for the month of April alone was more than double the total jobs lost during the Great Recession.”
#BREAKING More than 20.2 million US private sector jobs were destroyed in April, and that almost certainly underestimates the damage from efforts to contain the #coronavirus, payrolls firm ADP says pic.twitter.com/Q6qYEVr4QO
— AFP news agency (@AFP) May 6, 2020