Data: Federal Reserve Bank of St. Louis; Chart: Naema Ahmed/Axios

The less-followed U.S. jobs report, the Job Openings and Labor Turnover Survey, released Friday showed there were more than 11 million layoffs in March, a record high.

Why it matters: March's nonfarm payrolls report found just 881,000 jobs lost, so the JOLTS report showed the damage that came in the second half of the month as a result of the coronavirus pandemic.

The intrigue: While March's JOLTS report showed a record 8.8 million more jobs lost than the March payrolls report, on a percentage basis the nearly 396% difference in layoffs was lower than the 397% difference between the two reports seen in September 2019.

  • Between December 2000, when the JOLTS report began, and March 2020, the average difference was less than a quarter of that — 94.7%.
  • 2019's layoffs averaged a 152% difference between the two reports, meaning the payrolls report missed a much larger number of layoffs than average.

Between the lines: The JOLTS report also showed that in addition to layoffs, job openings declined materially starting in August 2019.

  • That could mean the labor market was not as strong at the end of the year as the nonfarm payrolls report suggested.
  • Economists say unusually warm winter weather and enthusiasm about the U.S.-China trade deal had helped reverse that trend at the beginning of 2020.

How it works: The Labor Department's nonfarm payrolls report is more timely and closely followed but doesn't account for jobs lost after the typical second payroll period of the previous month (usually between the 12th and the 17th day), a Bureau of Labor Statistics representative tells Axios.

  • Even its revisions only account for data available during that period (the initial March payrolls report showed only 701,000 jobs lost in March).

On the other side: The JOLTS report normally begins collecting data on the last day of the month, BLS says.

  • From there, data collection continues for the next two weeks and is released a month later (e.g. March's report is released in May).

Go deeper: Creaky unemployment systems plague jobless Americans

Go deeper

Coronavirus hotspots begin to improve

Data: The COVID Tracking Project, state health departments; Map: Andrew Witherspoon, Danielle Alberti, Sara Wise/Axios

Coronavirus infections are falling or holding steady in most of the country, including the hard-hit hotspots of Arizona, California and Florida.

The big picture: A decline in new infections is always good news, but don't be fooled: the U.S. still has a very long way to go to recover from this summer's surge.

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World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios VisualsThe

The Philippines' economy sunk into recession as its gross domestic product shrank 16.5% in the second quarter — marking the lowest reading since 1981, official figures show.

The big picture: Millions of Filipinos went on lockdown Tuesday as cases surged past 106,300, with stay-at-home orders in place for two weeks in Manila and nearby provinces on the island of Luzon, per the BBC. The economy's contraction is the "deepest" on record, Bloomberg notes.

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Virginia launches contact tracing app using specs from Apple and Google

Illustration: Sarah Grillo/Axios

Virginia's health department released a coronavirus contact tracing app on Wednesday that relies on a Bluetooth-based system designed by Apple and Google.

Why it matters: Adoption of COVID-19 tracing tech in the U.S. has been limited compared to other countries — and tracking who has possibly been exposed to the virus (and promptly notifying them) is crucial to stem the spread.