May 29

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The U.S. economy shrank slightly less than initially estimated at a 5.7 percent pace at the start of 2009 as the recession lumbered into the new year, according to a government report released Friday that hinted the recession might be…

The pace of layoffs slowed in April as employers cut 539,000 jobs, the fewest in six months, according to a Labor Department report released Friday. But the unemployment rate climbed to 8.9 percent, the highest since late 1983.