Employers cut a smaller-than-expected 539,000 jobs in April, smallest amount since October

[jefferson_dem]

Employers Cut 539,000 Jobs in April, Jobless Rate at 8.9%

Topics:Economic Data | Employment | Consumers | Economy (U.S.)By: Reuters | 08 May 2009 | 08:35 AM
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U.S. employers cut a smaller-than-expected 539,000 jobs in April, the smallest amount since October, according to government data on Friday that hinted at some improvement in the labor market and the recession-hit economy.

However, the Labor Department said the unemployment rate soared to 8.9 percent, the highest since September 1983. March's payrolls figure was revised to show a decline of 699,000, compared with a previously reported drop of 663,000. Job losses in February were bumped up to 681,000 from the previously estimated 651,000.

Analysts polled by Reuters had forecast non-farm payrolls dropping 590,000 in April. The unemployment rate had been forecast to rise to 8.9 percent from 8.5 percent in March.

The report showed job losses across almost all sectors, although at a less steep pace than in the previous months. The government and education and health services sectors added jobs.

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http://www.cnbc.com/id/30638052

POTUS to address unemployement today - http://www.google.com/hostednews/ap/article/ALeqM5j_uiAU6uwN5XVEsj-xdaXFFL0ZYAD981VBN82

[grahamhgreen]

1. All unemployed workers should be compensated. Unemployment is inescapable in our system. They must

Eat too.

[high density]

2. This is rather amazing

Even the rosiest economic pictures from back in December/January said receding job cuts wouldn't be happening until late this year at the earliest. Lets hope the trend continues for this month.

[OHdem10]

3. Obama's Plan is working. Government jobs have increased to

offset loss of Public Jobs. Stopping the bleeding.

[Clio the Leo]

4. I realize I said this yesterday but...

..... the GOP is SO screwed.

[jefferson_dem]

5. We should say it every day. 'Cause it's the truth.

They invested in failure, and can take zero credit for the imminent economic rebound.

They hate 'Merca.

[izquierdista]

6. Pardon me if I don't get excited

This is really bizarro world when another half million workers out of a job is considered "good" news.

[scheming daemons]

7. Dude.... the graph doesn't go from -700K to positive in a month...

..the direction *IS* important.

As long as each month is better than the previous one, we're moving in the right direction.

[DrToast]

9. Seriously, so much negativity...

This is how recessions end. Today's report is good news. Now that doesn't mean everything is back to normal, but you don't go from the basement to the penthouse without crossing the floors in between.

[jefferson_dem]

8. Point taken. But there are no magic wands or silver bullets...

It's the trend that matters.