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April unemployment: ‘Not as bad’ as expected

WASHINGTON — After three months of deep job losses, the unemployment rate settled down just slightly in April to 5% — better than analysts had expected but masking a sharp increase in part-time work. The Labor Department reported today that payrolls declined by 20,000 jobs in April, a far slower pace of job losses than in the first three months of the year, when the economy lost a cumulative 240,000 jobs. The steepest losses were in manufacturing, construction and retail trade, but employment in health care and other professional services expanded. The unemployment rate had stood at 5.1% in March, falling 0.1% in April, the department reported. For the full story visit http://www.latimes.com/business/la-fi-jobs3-2008may03,0,2382100.story

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