March Payrolls Plunge
04/03/2020
The first outright payroll decline in 9 1/2 years abruptly ended a record string of 113 months of positive job gains. In an indication of just how difficult it is for economists to understand the current environment, the Bloomberg median forecast was for a loss of just -100k jobs, indicating a gigantic miss of over 600k. Clearly, everyone is guessing at this point.
