The U.S. lost fewer jobs than forecast in April, and the unemployment rate dropped, signaling that the economic slowdown may be milder than the 2001 recession.
Payrolls shrank by 20,000 workers, following a revised 81,000 drop in March that was larger than previously estimated, the Labor Department said today in Washington. The jobless rate fell to 5 percent, from 5.1 percent in March.
“How does the employment rate go down when the nation loses jobs,” you ask?
Stephen Colbert explains:
U.S. Economy: Employers Lose 20,000 Jobs, Less Than Anticipated
The Word – The Audacity Of Hopelessness
The Colbert Report