05/11/2008 05:12 am ET | Updated May 25, 2011

20,000 Jobs Lost In April

The American economy lost 20,000 jobs in April, the fourth consecutive month of decline, in what many economists took as powerful evidence that the United States is almost certainly now ensnared in a recession.

But the number of jobs reported lost by the Labor Department on Friday was significantly smaller than most analysts had predicted, and the unemployment rate nudged down to 5 percent, raising hopes that the economy may not suffer as severely as once feared.

Read more on New York Times