Over 20-million jobs lost in US in April due to Covid-19

Volunteers from City harvest distribute food in Harlem, in New York City. - The coronavirus arrived in the US early this year, followed by deaths, business shutdowns and layoffs, rendering a previously healthy economy unrecognizable. Picture: AFP/KENA BETANCUR

The bleak numbers strengthen analysts’ expectations of a slow recovery from the recession caused by the pandemic, adding to a pile of dismal data on consumer spending, business investment, trade, productivity and the housing market. The report underscores the devastation unleashed by lockdowns imposed by states and local governments in mid-March to slow the spread of Covid-19.

Economists polled by Reuters had forecast nonfarm payrolls diving by 22-million. Data for March was revised to show 870,000 jobs lost instead of 701,000 as previously reported. A record streak of job growth dating to October 2010 ended in March. The unemployment was forecast rising to 16% from 4.4% in April.

Companies such as Walmart and Amazon are hiring workers to meet huge demand in online shopping. Truck drivers are also in demand, while supermarkets, pharmacies and courier companies need workers. Still, economists do not expected a quick rebound in the labour market.

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