What we have here is a mind blowing decimating rapid decline.

Collapse of the Labor Market in 5 Charts: Employment Plunged to 1999 Level. Everything’s a Gut-Wrenching Record

May 8, 2020

Excerpt:

What employers reported.

The above data was what households reported. Employers look at it from their point of view. And employers reported that they eliminated 20.5 million jobs in April, after having cut 870,000 jobs in March. This was the largest monthly job loss ever. Employment losses were spread across the industries, but hit some industries particularly hard, with leisure and hospitality at the top:

The service sector shed 17.16 million jobs, including:

7.65 million in leisure and hospitality

2.13 million in professional and business services

2.11 million in retail

2.09 million in health care and social assistance

1.27 million in other services

584,000 in transportation and warehousing.

The goods-producing sector shed 2.35 million jobs, including:

1.33 million in manufacturing

914,000 in construction

50,000 in mining and logging

Governments shed 980,000 jobs.

https://wolfstreet.com/2020/05/08/collapse-of-the-us-labor-market-in-5-charts-employment-plunged-to-1999-level-everythings-a-gut-wrenching-record/