By Dan Burns
(Reuters) – The record 20.2 million U.S. private-sector jobs lost in April from coronavirus lockdowns cut across most industries and affected workers at companies of all sizes.
Still, the job losses shown in the ADP National Employment Report on Wednesday were not distributed evenly, and they left some sectors employing the fewest people since the payroll processing firm began tracking the data in 2001.
Here is a look at how it played out:
Jobs that had to be performed on site, such as in the construction and leisure and hospitality industries, were hardest hit. Sectors in which working from home was a feasible option cut far fewer workers.
So while a third of all construction jobs were eliminated at least temporarily, only about 2% of financial services jobs were lost.
(Graphic: Some industries were hit much harder than others IMAGE link: https://fingfx.thomsonreuters.com/gfx/mkt/oakpezebovr/Pasted%20image%201588792624736.png)
On balance, small employers cut a much higher share of their workforce than medium or large businesses. Roughly one of every six jobs at a firm employing fewer than 50 workers was cut in April.
(Graphic: Jobs at smaller businesses were slashed IMAGE link: https://fingfx.thomsonreuters.com/gfx/mkt/qzjpqknbbpx/Pasted%20image%201588790455511.png)
The small-firm cuts fell hardest at companies employing between 20 and 50 people. Among this group of employers, total employment last month tumbled by 21.5%.
(Graphic: Where the axe fell the hardest IMAGE link: https://fingfx.thomsonreuters.com/gfx/mkt/xklpykqrrpg/Pasted%20image%201588776666718.png)
Medium-sized businesses – classified by ADP as those employing between 50 and 499 workers – also shed a greater-than-average share workers. Employment in that group fell by 17.4% versus a national average of 15.6%.
(Graphic: Medium-sized firms suffered large impact IMAGE link: https://fingfx.thomsonreuters.com/gfx/mkt/qzjpqknlbpx/Pasted%20image%201588777531814.png)
The largest employers overall cut the greatest number of jobs, with companies employing 1,000 or more people shedding 7.6 million jobs. Nonetheless, the reductions amounted to a smaller share of the group’s overall employment – 13.3% – than among smaller employers.
(Graphic: The largest companies kept more workers IMAGE link: https://fingfx.thomsonreuters.com/gfx/mkt/qzjpqknlbpx/Pasted%20image%201588777531814.png)
(Reporting by Dan Burns; Editing by David Gregorio)
