The US economy lost 701,000 jobs in March and the
unemployment rate rose to 4.4%, in the middle of the coronavirus pandemic, the
Labor Department said on Friday.
This is the biggest job loss since March 2009, when the
financial crisis sank world economies.
In February, the unemployment rate was at 3.5%, the lowest
level in 50 years, and in March it experienced the largest monthly rise in more
than 45 years.
The leisure and hospitality sectors, which are among the
first to suffer the impact of travel
restrictions, lost 459,000 jobs, according
to the government report.
But there were also notable losses in the health, retail and
business services sectors.
The Labor Department acknowledged, however, that "it
cannot accurately quantify the effects of the pandemic on the labor market in
March."
The two surveys that make up the government's closely watched
job report are conducted during the week that includes the 12th of the month.
In March, that was before extensive confinement was imposed that led to the
closure of businesses across the country.
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