Layoffs in the U.S. private sector in March outstripped economists' forecasts, reaching 742,000, compared with the 663,000 that experts expected, according to ADP Employer Services. Businesses will have to see more evidence that the downturn is leveling out "before the drop in payrolls will slow," said Ian Shepherdson, chief U.S. economist at High Frequency Economics.

Related Summaries