Small Businesses Slash More Than 11 Million Jobs in April
BALTIMORE (AP) — U.S. businesses cut an unprecedented 20.2 million jobs in April, an epic collapse with coronavirus outbreak closing the offices, factories, schools, construction sites and stores that propel the U.S. economy.
The Wednesday report from payroll company ADP showed the tragic depth and scale of job losses that left no part of the world’s largest economy unscathed.
The nation’s small businesses slashed more than 11 million jobs in April as they were forced to close or suffered steep revenue losses amid the coronavirus outbreak.
The smallest companies, those with fewer than 20 workers, cut nearly 3.4 million jobs and those with 20 to 49 employees cut 2.6 million. April’s losses surpassed the 170,000 jobs cut in March.
By comparison, companies added more than 31,000 jobs on average each month during 2019.