Pace of US jobs loses slows in April
Job seekers collect information about work opportunities at a jobs fair in California
Wall Street share prices rose on Friday as American investors, hopeful for an economic recovery, cheered the latest economic news.
On Friday, the US Labor Department said American firms had cut 539,000 jobs in April, fewer than in previous months and less than some had been expecting.
However, the unemployment rate climbed to 8.9% - its highest since 1983 - up from 8.5% in March as many businesses refrained from hiring amid an uncertain economic outlook.
Since December 2007, the US economy has lost 5.7 million jobs.
The figures showed job losses across most sectors of the economy, although hiring picked up in education, health services and government.
Chris Low is from FTN Financial in New York.
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First broadcast on World Business News on 8 May 2009
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