This morning the Bureau of Labor Statistics reported that 701,000 jobs disappeared in March. Economists had been expecting about a third that number. Hardest hit were bars and restaurants, accounting for 60% of the loss. Also hit hard: retail, temp work, and, shockingly, health care. One reason job loss expectations were relatively low was that the survey of employers on which the count is based is done during the week containing the 12th—in this case, between March 8 and 14. (No one is expecting anything but a torrent of bad news in… Read More