WASHINGTON - New applications for jobless benefits plunged to the lowest level in 14 weeks, a possible sign that the massive wave of layoffs has peaked. Associated Press May 7, 2009
NEW YORK (Reuters) – U.S. private sector job losses slowed in April, coming in below economists’ expectations, according to a report by ADP Employer Services on Wednesday.
ADP said private employers cut 491,000 jobs in April versus a revised 708,000 lost in March that was originally reported at 742,000 jobs lost.
Economists had expected 650,000 private-sector job cuts in April, according to a Reuters poll.
(Reporting by Burton Frierson, Editing by Chizu Nomiyama)
Americans are borrowing less. Now that's gotta be a good thing! Banks and credit card companies may not like it though.
