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April U.S. Job Loss Softer Than Feared; Unemployment Falls

Employers shed jobs for a fourth straight month but by far less than expected, the Labor Department said Friday, bolstering views that the economic downturn will be short and shallow.

Also, the jobless rate fell 0.1 point to 5% from March's 2 1/2-year high. Analysts had predicted unemployment would tick up to 5.2%.

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