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28.05 - 15:47
U.S. layoffs surged to record high of 11.4 million in March
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WASHINGTON – U.S. layoffs soared in March to a record 11.4 million after state and local governments closed restaurants, bars, movie theaters and other nonessential businesses in response to the intensifying viral outbreak.
The Labor Department also said Friday that job openings plunged, and hiring fell, though those changes weren't nearly as dramatic as layoffs, which rose more than six-fold.
The number of available jobs dropped nearly 12%, to 6.2 million. The number of hires declined 13%, to 5.2 million. New data is revealing how the severity of this downturn has skewed the nature of U.S.
recessions. Businesses typically cut back on hiring first as the economy begins to slow. Layoffs then intensify once employers start to accept that a
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COVID-19
United States
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Deaths: 750 423
Recovered: 0
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India
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Brazil
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