U.S. businesses cut 27,000 jobs in March, before virus hit

Business News

FILE – In this Sept. 18, 2019, file photo job applicants looks at jobs available at Florida International University during a job fair in Miami. On Wednesday, Jan. 8, 2020, payroll processor ADP reports on how many jobs its survey estimates U.S. companies added in December. (AP Photo/Lynne Sladky, File)

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

WASHINGTON (AP) — U.S. companies shed 27,000 jobs in March, according to a private survey, a figure that mostly reflected the economy as it stood before the full impact of the viral outbreak.

Payroll processor ADP said small businesses took the biggest hit, losing 90,000 jobs, while medium-sized and large companies still added workers. Economists forecast that much larger job losses, probably in the millions, will be reported in the coming months.

The Markets

More The Markets

Associated Bank Market Outlooks and Thought Leaders

More The Opening Bell