Corprorate sector lost thousands of jobs, but it is much less than it was anticipated

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Employment in the US corporate sector shrank in March due to the corona crisis as many companies closed their doors. According to payroll processor ADP, the contraction amounted to 27,000 jobs. Economists had generally anticipated a much stronger decline of 150,000 jobs.

Last week it was announced that claims for benefits in the United States have risen explosively due to the crisis. In February, 179,000 jobs were added to American business, according to a revised figure.

ADP’s figures anticipate the jobs report released by the U.S. government on Friday. That report also includes developments in the public sector.

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