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The pandemic's initial tremors hit those least able to absorb the blow,
這場流行病最初的震動對那些最無力承受打擊的人造成重創，
with April's job losses concentrated in lower-wage labor, from hospitality to retail and restaurants.
4月份的失業集中于酒店業、零售業和餐飲業中，賺取低工資的勞動者。
In May, layoffs will extend further into white-collar positions, according to Lydia Boussour of Oxford Economics.
牛津經濟學院（Oxford Economics）的麗迪婭·布索表示，5月份，裁員將進一步擴大到白領階層。
The April report "really reflects the first-round effect of the Covid-19 crisis,
她說，4月份的報告“真實地反映了新冠肺炎疫情危機的第一輪影響，
so all these industries that are really on the front line were directly hit by the lockdowns and fear," she said.
因此所有這些真正處于一線的行業，都直接受到了封鎖和恐懼的打擊”。
In May, the job losses will likely be in the "second-round" of companies including more professional positions, corporate offices, and higher-earners, she said.
她說，今年5月，失業可能會出現在“第二輪”公司中，包括更專業的職位、集團辦公室和高收入者。
With stimulus checks from the U.S. government making up a smaller share of income for such people,
由于美國政府的經濟刺激計劃，在這些人的收入中所占份額較小，
the deepening employment hole could fan calls for a fourth round of fiscal aid from Congress -- on top of trillions of dollars already dispatched.
就業缺口的加深可能會促使國會呼吁在已經發放的數萬億美元的基礎上，再提供第四輪財政援助。
The Federal Reserve is likely to keep pumping money into the economy while leaving interest rates near zero for an extended period.
美聯儲可能繼續向經濟體注入資金，同時將利率長期維持在接近零的水平。
There's also risk in coming months that a recession will morph into a deeper depression,
未來幾個月，如果第二波感染在一些州重新開放后再次終止商業活動，經濟衰退也有可能演變成更嚴重的經濟蕭條，
or a prolonged and sustained downturn -- if a second wave of infections closes down business again after some states reopen.
或是長期持續的衰退。根據穆迪公司的分析，這種可能性越來越大，
That's becoming more and more likely, according to Moody's Analytics, which projects a peak unemployment rate in May of about 17%.
該公司預計5月份失業率將達到17%左右的峰值。
Stock investors have largely looked past the dire economic news, with equities rallying since late March.
股市投資者基本上忽略了這一可怕的經濟消息，股市自3月下旬以來一直在反彈。
The S&P 500 was higher on Friday and on track for a 3% weekly gain, while the yield on benchmark 10-year Treasuries rose and the Bloomberg dollar index pared its decline.
標普500指數上周五上漲，有望實現3%的周漲幅，而基準10年期美國國債收益率上升，彭博美元指數回落。
What Bloomberg's Economists Say
彭博社經濟學家們的說法
"The extent of job losses is consistent with Bloomberg Economics' modeling of a near 40% contraction in real GDP for the quarter.
“失業的程度與彭博社經濟學家們對本季度實際GDP收縮近40%的預測一致。
While layoffs were concentrated in sectors such as restaurants, hospitality and leisure, losses occurred in nearly all subcategories.
雖然裁員集中在餐飲、酒店和休閑等行業，但幾乎所有子類別都出現了虧損。
The breadth of job losses is a jarring signal of the massive challenge of restarting vast swaths of the economy -- not just a few sectors
失業率的大幅下降是一個令人不安的信號，表明重新大范圍啟動濟，而不僅是重啟少數行業存在的巨大挑戰。
-- and it therefore serves as a stark indication that a 'V-shaped' recovery will not be possible."
因此，這是一個明顯的跡象，表明“V型”復蘇是不可能的。”
