April job loss at 539K - is the worst over?


Just look at it as the glass being half full. The U.S. economy lost 539,000 jobs in April, the U.S. Labor Department announced Friday, with the nation's unemployment rate rising to 8.9 percent, the highest rate since 1982. But the job loss total was considerably less than expected, suggesting layoffs may have peaked in the world's largest economy.

A Bloomberg News economists survey had forecast the economy to shed 630,000 jobs in April. The economy lost a revised 699,000 jobs in March.