Layoffs Slow in April, But Jobless Rate Rises

Ad Feedback

The government's latest jobless numbers are out.

More than half a million people lost their job last month, but some analysts are calling that good news.

The unemployment rate climbed to 8.9 percent as many businesses remained wary of hiring given all the economic and financial uncertainties in the U.S.  The pace of layoffs, however, slowed in April, with employers cutting 539,000 jobs, the fewest in six months.

Struggling in these hard economic times?  Click the player to hear financial advice from CBN Reporter Carolyn Castleberry.

The Labor Department tally wasn't nearly as deep as the 620,000 job losses that economists were expecting. The rise in the unemployment rate from 8.5 percent in March matched economists' forecasts.

If laid-off workers who gave up looking for new jobs or have settled for part-time work are included, the unemployment rate would have been 15.8 percent in April, the highest on records dating back to 1994.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

Efrem Graham

Efrem Graham

News Anchor & Reporter

Efrem Graham is an award-winning journalist, who comes to CBN News from the ABC owned and operated station in Toledo, Ohio.  He received his master's degree from the Columbia University Journalism School. He also holds a bachelor's degree in English Literature from the Richard Stockton College of New Jersey.  Follow Efrem on Twitter @EfremGraham and "like" him at Facebook.com/EfremGrahamCBN.