Friday, May 8, 2009

Jobless Rate

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

Economists were expecting job losses of 600,000 in April, and predicted the unemployment rate would rise to 8.9 percent from 8.5 percent in March.

That may not comfort the 13.7 million unemployed people in the United States, but economists said the figures offered a rare signal that the labor market was not tumbling quite as fast. FULL STORY.

Los Angeles Times
Layoffs slow in April; jobless rate rises

WASHINGTON -- The pace of layoffs slowed in April when employers cut 539,000 jobs, the fewest in six months. But the unemployment rate climbed to 8.9 percent, the highest since late 1983, as many businesses remain wary of hiring given all the economic uncertainties. FULL STORY.

U.S. jobless rate at 25-year high

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. FULL STORY.

MY COMMENT: Keep in mind that government and education job creation means more taxes to cover health care and pension benefits that you must pay.

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