The US jobless rate hit a near eight-year high in April, the Department of Labor reported Friday. The unemployment rate rose to 6 percent, up from 5.7 percent in March. That's the highest level since Aug. 1994.
Still, by one measure, layoffs have ebbed this spring after reaching a peak following Sept. 11.
Some 112,649 job cuts were announced last month, according to Challenger, Gray & Christmas Inc. That's up slightly from 102,315 in March, but down considerably from the peak of 248,332 last September.