 | | Builders work on home in new development in northeast Denver, 17 Apr 2008 | The U.S. economy lost a net total of 20,000 jobs in April. It is the fourth month in a row that the U.S. job market shrank, though the losses this month were not as steep as in the previous month. Friday's report from the Labor Department says the jobless rate declined one-tenth of a percent to 5.0 percent. Job losses hit manufacturing and construction hard, while education and health care made some gains. The job losses come even though the U.S. central bank has been cutting interest rates in an effort to boost the economy. The U.S. economy has been hurt by soaring energy costs and turmoil in the credit markets. Some information for this report was provided by AFP, and Reuters.
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