U.S. Companies Cut a Record 20.2 Million Jobs, ADP Says (2)

Employment at U.S. companies plummeted in April by the most in records back to 2002 as coronavirus mitigation efforts brought business activity to a near standstill.

Private payrolls slumped by 20.2 million from a month earlier, according to ADP Research Institute data released Wednesday. Employment in March was revised down to a 149,000 decrease from a previously reported 27,000 drop. The report reflects data through April 12 to align with Labor Department figures, and doesn’t include the impacts of Covid-19 that occurred later in the month.

The report is a harbinger of the government’s April jobs report on Friday ...