Gwengoat/iStock(WASHINGTON) — U.S. employers cut 701,000 jobs in March and the unemployment rate rose to 4.4% from 3.5%, according to the latest report from the Bureau of Labor Statistics.
The new report released Friday is the first to show the initial impacts of the novel coronavirus pandemic on the U.S. labor market.
The COVID-19 outbreak has brought U.S. businesses to a screeching halt. At least 45 states have issued or announced statewide closures of all non-essential businesses to help stop the spread of coronavirus in the U.S.
Some of the biggest job losses occurred in leisure and hospitality, especially in food and drinking services, according to the government. Notable losses also occurred in health care/social assistance, professional/ businesses services, retail and construction.
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