U.S. Loses 700K Jobs in March, Unemployment Rate Rises to 4.4 Percent

U.S. employers reported cutting 701,000 jobs in March, while the nation’s unemployment rate rose to 4.4 percent from 3.5 percent in February. The worst employment report in a decade is the tip of the iceberg, however. Economists expect a much worse labor market in the months ahead. The Bureau of Labor Statistics survey was conducted in mid-March, before many states issued stay-at-home orders and 10 million people filed for unemployment benefits.
Source: New feed 2