A sign that the relentless pace of job losses is starting to level off… From the NYT:

The American job market remains dreadful and is still worsening, but at a slower pace than before — good news given the stomach-churning events of recent months. The government’s monthly employment report buoyed hopes that the longest, most punishing recession since the Great Depression may be relenting.

Another 539,000 jobs disappeared from the economy in April, and the unemployment rate jumped to 8.9 percent, its highest level in a quarter century, the Labor Department reported Friday. Yet the deterioration was milder than expected, prompting encouraging talk. […]