Economy loses 701,000 jobs in March

By Around the Web

(WASHINGTON EXAMINER) — The economy lost 701,000 jobs in March, the Labor Department reported Friday in an early sign of the coronavirus pandemic’s toll on the labor market.

The unemployment rate rose to 4.4% for March, up from February’s 3.5%, the largest monthly jump in 45 years.

Forecasters had expected the unemployment rate to rise to around 3.9%, with the increase limited because the survey period for the report was earlier in March, before the worst of the pandemic-induced layoffs.

Leave a Comment