ADP's April private jobs report shows worst losses in its history
The private sector lost 20.2 million jobs in April, according to ADP's private jobs report — the worst monthly job loss in the report's history.
Why it matters: "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," Ahu Yildirmaz, co-head of the ADP Research Institute said. The hospitality sector was hit hardest with 8.6 million jobs lost, while the trade, transportation, utilities and construction sectors also suffered major blows.