March Jobs Disaster: 701,000 Jobs Lost, Unemplyment Rate Soars Most In 45 Years

Read more on this subject: Employment & Jobs
News Story Source: Zero Hedge – Tyler Durden
While today's payrolls report was expected to be not quite as terrible as the recent initial claims suggested, especially since the March survey week took place around March 13 or ahead of the big shutdown and layoff announcements, it ended up being catastrophic nonetheless, with the BLS reporting moments ago that a whopping 701K jobs were lost in March, 7x more than the 100K expected, and just shy of the worst payrolls prints recorded during the financial crisis.

That this happened well before the worst of the cronavirus induced coma hit, suggests that what comes next will be truly biblical. 

For some reason the famous "Taleb Turkey" comes to mind:

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