by Mike ‘Mish’ Shedlock
The Street
ADP reports 20.236 million jobs private vanished in April.
The ADP National Employment Report provides the strongest clue yet for the pending disastrous BLS jobs report on Friday.
Private sector employment decreased by 20,236,000 jobs from March to April according to the April ADP National Employment Report®. The report utilizes data through the 12th of the month. The NER uses the same time period the Bureau of Labor and Statistics uses for their survey. As such, the April NER does not reflect the full impact of COVID-19 on the overall employment situation.
Unprecedented Job Losses