U.S. Job Losses Slow Down, Unemployment rate hits 9.4%

Bloomberg : The U.S. lost fewer jobs than forecast in May, reinforcing signs that the deepest recession in half a century is starting to abate.

Payrolls fell by 345,000, the least in eight months, after a revised 504,000 loss in April, the Labor Department said today in Washington. The jobless rate increased to 9.4 percent, the highest since 1983, in part as more people joined the labor force to look for work.

Treasury 10-year note yields rose to the highest since November as a report showed U.S. employers cut the least jobs in eight months during May, bolstering expectations that the worst of the recession may be over.