Jobs survey pinpoints client niches suffering the most under Covid. BONUS: Infographic.
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By CPA Trendlines Research
Private sector employment decreased by 20.2 million jobs from March to April according to the April ADP National Employment Report, and that doesn’t reflect the full impact of COVID-19.
A quick scan of the data shows the hardest hit client sectors, with the smallest businesses hit particularly hard.
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“Job losses of this scale are unprecedented. The total number of job losses for the month of April alone was more than double the total jobs lost during the Great Recession,” says Ahu Yildirmaz, co-head of the ADP Research Institute. “Additionally, it is important to note that the report is based on the total number of payroll records for employees who were active on a company’s payroll through the 12th of the month. This is the same time period the Bureau of Labor and Statistics uses for their survey.”
The Details by Company Size and Business Sector: