Friday, May 8, 2009

U.S. Jobless Rate Hits 8.9%, but Pace of Losses Eases

The New York Times - The United States economy lost 539,000 jobs in April, the government reported on Friday, a sign that the relentless pace of job losses was starting to level off slightly but was still nowhere near ending.

A year ago, the loss of more than half a million jobs in a single month would have seemed like a disaster for the economy. On Friday, experts were calling it an improvement.

The Bureau of Labor Statistics reported that the unemployment rate surged to 8.9 percent in April, its highest point in a generation. But some economists saw glimpses of a bottom in the latest grim accounting of job losses.http://www.nytimes.com/2009/05/09/business/economy/09jobs.html

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