From the Financial Times:
The US private sector shed 491,000 jobs in April, according to a closely-watched survey of business employment on Wednesday, a sign that while the job losses remain high, the free-fall may be slowing.
From CNN Money:
Separately, outplacement firm Challenger, Gray & Christmas Inc. reported that the number of layoffs announced in April fell for the third straight month. While the cuts mark the lowest total since last October, the April figure was still 47% higher than job cuts announced in the same month a year ago.
Friday’s jobs report will potentially be a big sign for our economic recovery. It will give us an idea if the bottoming of the recession is having a positive impact on jobs. The consensus is for 8.9 percent unemployment with 610,000 jobs lost in April. If Friday’s reports is better than the consensus, look for a good day for the stock market and an eventual increase in consumer confidence.