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MONDAY, NOVEMBER 23, 2009
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Layoffs Slow as Unemployment Hits 8.9%, Worst Since '83

539K positions cut; jobless rate hits 8.9%, highest since 1983

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(AP) – The pace of layoffs slowed in April when US employers cut 539,000 jobs, the fewest in 6 months; economists had expected 620,000 job cuts. But the unemployment rate climbed to 8.9%, the highest since late 1983, as many businesses remain wary of hiring in a climate of economic uncertainty. However, the slowdown in layoffs may bolster expectations that the worst of the downturn's hefty job losses are past.

"There are glimmers of hope. We are moving in the right direction in terms of layoffs. They are measurably less bad than what we've been through," said an economist. If laid-off workers who have given up looking for new jobs or have settled for part-time work are included, the unemployment rate would have been 15.8% in April, the highest on records dating to 1994.

Cohila Gray of U.S. Department of Agriculture, left, talks to a long line of job seekers at a job fair organized by National Career Fairs Wednesday, April 29, 2009 in Columbus, Ohio.
Cohila Gray of U.S. Department of Agriculture, left, talks to a long line of job seekers at a job fair organized by National Career Fairs Wednesday, April 29, 2009 in Columbus, Ohio.   (AP Photo/Kiichiro Sato)
John Englar, of Boston, searches for employment on the Internet at the JobNet career center, in Boston, Thursday, May 7, 2009. Englar, who trained as a big-rig semi truck driver, used the free Internet service during his search. The pace of layoffs slowed in April, with employers cutting 539,000...
John Englar, of Boston, searches for employment on the Internet at the JobNet career center, in Boston, Thursday, May 7, 2009. Englar, who trained as a big-rig semi truck driver, used the free Internet...   (AP Photo/Steven Senne)
Joseph Sassi, 39, left, waits in line to talk to a job counselor at a Nevada Jobconnect Career Center in Las Vegas, Thursday, April 23, 2009.
Joseph Sassi, 39, left, waits in line to talk to a job counselor at a Nevada Jobconnect Career Center in Las Vegas, Thursday, April 23, 2009.   (AP Photo/Jae C. Hong)
Vic Ziverts shows off his
Vic Ziverts shows off his "Hire Me" chocolate bar which includes his resume on the wrapper at a job fair organized by National Career Fairs Wednesday, April 29, 2009, in Columbus, Ohio.   (AP Photo/Kiichiro Sato)
Terry Smith takes notes as Janice Worthington of Worthington Career Services gives feedback on Smith's resume at a job fair organized by National Career Fairs, April 29, 2009 in Columbus, Ohio.
Terry Smith takes notes as Janice Worthington of Worthington Career Services gives feedback on Smith's resume at a job fair organized by National Career Fairs, April 29, 2009 in Columbus, Ohio.   (AP Photo/Kiichiro Sato)
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There are glimmers of hope. We are moving in the right direction in terms of layoffs. They are measurably less bad than what we've been through. - Mark Zandi, chief economist at Moody's Economy.com

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3 comments
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TerrifiedCitizen
May 8, 09 2:20 PM CDT
The workers who have given up, is and never has been accurately documented by the department. If the true numbers of available and capable workers sitting idle were reported, it would indeed be frightening. The final reports have always been audited for political impact. Reply
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TRU2TM3
May 8, 09 4:34 PM CDT
And don't forget those who are under-employed.
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PaleRider
May 9, 09 9:41 AM CDT
The Bama, Worst President Ever. Reply
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