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Job Losses Slow

May 8, 2009 - by Donny Shaw

Not directly related to Congress, but today’s news on what is probably the most important economic indicator is still relevant on many fronts. According to the Labor Department’s monthly jobs report, the unemployment rate hit a 25-year high of 8.9 percent in April, but the number of jobs lost during the month fell to their lowest level since October.

I’m guessing that this coupled with the Treasury’s optimistic stress test results released yesterday will weaken the Democrats’ hand in finalizing legislation like the Credit Cardholders’ Bill of Rights Act, the Helping Families Save Their Homes Act, and the Mortgage Reform and Anti-Predatory Lending Act.

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