Washington (AP) Employers cut far fewer jobs in April than in recent months and the unemployment rate dropped to 5 percent. It was a better-than-expected showing that nonetheless still revealed strains in the nation's crucial labor market.
A new report from the labor department shows that the economy lost jobs for the fourth month in a row. But in April the losses totaled 20,000, an improvement from the 81,000 reductions in payrolls logged in March.
Job losses for both February and March turned out to be a bit deeper than previously reported.