Survey: Businesses Cut 2.76 Million Jobs in May
BALTIMORE (AP) — U.S. businesses shed 2.76 million jobs in May, as the economic damage from the historically unrivaled coronavirus outbreak stretched into a third month.
The payroll company ADP reported Wednesday that businesses have let go of a combined 22.6 million jobs since March.
The virus forced employers to shutter offices, factories, gyms and schools, while demand from consumers for gasoline, clothing, airline tickets, hotel rooms and restaurant meals quickly vanished.
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