Small businesses slash more than 11 million jobs in April
The nation’s small businesses slashed more than 11 million jobs in April as they were forced to close or suffered steep revenue losses amid the coronavirus outbreak.
That report comes from payroll provider ADP, which counted the jobs lost at its business customers who had fewer than 500 workers. The smallest companies, those with fewer than 20 workers, cut nearly 3.4 million jobs, and those with 20 to 49 employees cut 2.6 million.
April’s losses surpassed the 170,000 jobs cut in March. By comparison, companies added more than 31,000 jobs on average each month during 2019.
ADP also tallied more than 20 million jobs lost at all its business customers in April.
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