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April jobs report preview: Nonfarm payrolls decline, unemployment rises on coronavirus - Business Insider

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Economists forecast 16% unemployment and a record 21 million payroll cuts for April jobs report

Wednesday report by ADP Research Institute showed that private payrolls declined 20.2 million in AprilWhile Friday's report is not as current as the weekly jobless claims release, it will paint a more comprehensive picture of the labor market because it includes hirings and firings. Here are some of the top things economists will be looking for in Friday's report.

"If we measure the strength of the labor market as the share of the population with a job, we do not have to be concerned with most of the measurement issues associated with the unemployment rate, specifically whether would-be workers are actively looking for employment or not and therefore counted amongst the ranks of the unemployed,"They will also be watching the count of hours worked, which will indicate if people are having hours cut because of the coronavirus pandemic but have...

Wednesday's private sector report from ADP showed deep losses spread across multiple industries. Service-providing payrolls dropped by 16 million in April,

 

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