April 27, 2024 12:42 pm
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BLS: U.S. lost 701,000 jobs in March

By Mike Sunnucks | Rose Law Group Reporter

The U.S. economy lost 701,000 jobs in March with the Coronavirus shutting down large portions of the economy.

The U.S. hospitality industry (which is important in Arizona as well as Nevada and other states) lost 459,000 jobs related to tourism, travel and restaurants, according to the U.S. Bureau of Labor Statistics. Those losses wiped out job gains in the tourism and hospitality sector the past two years.

Arizona ‘s tourism sector is a $24.4 billion industry with 192,000 jobs statewide.

BLS reports the U.S. unemployment rate is now 4.4 percent up from 3.5 percent before the pandemic.

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