Businesses slash 700,000 jobs in the first half of March

San José, CA – On Friday, April 3, the U.S. Department of Labor reported that businesses cut more than 700,000 jobs last month. This report was based on surveys from the first half of March, before the full impact of the COVID-19 pandemic hit. This ended the longest streak of job gains – almost nine and a half years – and almost certainly marked the beginning of a recession.