U.S. Private Payrolls Dropped by 20.2 Million

“Private payrolls hemorrhaged more than 20 million jobs in April as companies sliced workers amid a coronavirus-induced shutdown that took most of the U.S. economy offline, according to a report Wednesday from ADP,” CNBC reports.

“In all, the decline totaled 20,236,000 — easily the worst loss in the survey’s history going back to 2002… The previous record was 834,665 in February 2009 amid the financial crisis and accompanying Great Recession.”